Hope Bancorp, Inc. (HOPE) Holdings Boosted by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan raised its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 61.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,391 shares of the financial services provider’s stock after buying an additional 18,380 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Hope Bancorp were worth $857,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas raised its holdings in shares of Hope Bancorp by 0.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 55 shares in the last quarter. Hanson & Doremus Investment Management raised its holdings in shares of Hope Bancorp by 0.7% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,870 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 85 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Hope Bancorp by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 122 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Hope Bancorp by 1.8% during the 2nd quarter. Amalgamated Bank now owns 17,669 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 305 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in shares of Hope Bancorp by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 92,823 shares of the financial services provider’s stock valued at $1,731,000 after purchasing an additional 781 shares in the last quarter. 80.58% of the stock is owned by institutional investors.

Hope Bancorp, Inc. (HOPE) opened at $18.51 on Wednesday. Hope Bancorp, Inc. has a twelve month low of $17.14 and a twelve month high of $19.53. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2,577.18, a PE ratio of 15.59, a PEG ratio of 1.58 and a beta of 1.39.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. The company had revenue of $139.51 million for the quarter, compared to the consensus estimate of $137.93 million. During the same quarter in the previous year, the firm posted $0.22 EPS. equities research analysts forecast that Hope Bancorp, Inc. will post 1.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.13 per share. The ex-dividend date was Monday, October 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.81%. Hope Bancorp’s payout ratio is 43.33%.

In other news, EVP Jason K. Kim sold 3,669 shares of Hope Bancorp stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $18.25, for a total transaction of $66,959.25. Following the sale, the executive vice president now directly owns 67,060 shares in the company, valued at approximately $1,223,845. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alex Ko sold 40,000 shares of Hope Bancorp stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $18.92, for a total transaction of $756,800.00. Following the sale, the chief financial officer now owns 10,088 shares in the company, valued at $190,864.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,981 shares of company stock worth $2,303,614. Insiders own 5.20% of the company’s stock.

A number of research analysts have recently weighed in on HOPE shares. FIG Partners downgraded shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the company from $20.00 to $17.00 in a report on Friday, September 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $19.00 price target on shares of Hope Bancorp in a report on Thursday, September 7th. DA Davidson reiterated a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th. ValuEngine downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.58.

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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.

Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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