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Metropolitan Life Insurance Co. NY Holds Stake in Hope Bancorp, Inc. (HOPE)
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Other hedge funds and other institutional investors also recently bought and sold shares of the company. 1st Global Advisors Inc. raised its position in Hope Bancorp by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 10,429 shares of the financial services provider’s stock worth $200,000 after buying an additional 122 shares in the last quarter. GW&K Investment Management LLC raised its position in Hope Bancorp by 15.2% in the first quarter. GW&K Investment Management LLC now owns 10,684 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,410 shares in the last quarter. TFS Capital LLC bought a new position in Hope Bancorp during the first quarter worth $208,000. Shelton Capital Management raised its position in Hope Bancorp by 15.0% in the first quarter. Shelton Capital Management now owns 11,668 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,519 shares in the last quarter. Finally, KCG Holdings Inc. bought a new position in Hope Bancorp during the first quarter worth $239,000. Institutional investors own 79.21% of the company’s stock.
Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) opened at 17.94 on Friday. Hope Bancorp, Inc. has a one year low of $15.00 and a one year high of $22.99. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 16.66 and a beta of 1.41. The company’s 50-day moving average price is $18.62 and its 200-day moving average price is $19.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.90%. Hope Bancorp’s dividend payout ratio is 44.44%.
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A number of analysts recently commented on the company. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, July 12th. Piper Jaffray Companies dropped their price target on Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 30th. BidaskClub upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Hope Bancorp in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $22.00 price target on Hope Bancorp and gave the stock a “hold” rating in a report on Tuesday, April 4th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $20.00.
Hope Bancorp Company Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.