Maltese Capital Management LLC Buys 17,000 Shares of Hope Bancorp, Inc. (HOPE)

Maltese Capital Management LLC increased its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 152,000 shares of the financial services provider’s stock after buying an additional 17,000 shares during the period. Maltese Capital Management LLC owned 0.11% of Hope Bancorp worth $2,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Hope Bancorp by 0.3% in the 2nd quarter. BlackRock Inc. now owns 15,820,716 shares of the financial services provider’s stock worth $295,054,000 after buying an additional 51,366 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Hope Bancorp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,011,407 shares of the financial services provider’s stock worth $224,013,000 after buying an additional 145,101 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Hope Bancorp by 12.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock worth $151,931,000 after buying an additional 960,796 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Hope Bancorp by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,801,510 shares of the financial services provider’s stock worth $138,164,000 after buying an additional 303,779 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Hope Bancorp by 0.9% in the 2nd quarter. State Street Corp now owns 4,811,337 shares of the financial services provider’s stock worth $89,732,000 after buying an additional 43,135 shares during the last quarter. Institutional investors own 80.58% of the company’s stock.

HOPE has been the topic of several recent research reports. ValuEngine downgraded Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.00 target price on shares of Hope Bancorp in a research note on Thursday, September 7th. FIG Partners downgraded Hope Bancorp from an “outperform” rating to a “market perform” rating and cut their target price for the company from $20.00 to $17.00 in a research note on Friday, September 15th. DA Davidson reiterated a “buy” rating and set a $21.00 target price on shares of Hope Bancorp in a research note on Monday, September 18th. Finally, Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.58.

Shares of Hope Bancorp, Inc. (NASDAQ HOPE) opened at $18.34 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. Hope Bancorp, Inc. has a 52 week low of $15.10 and a 52 week high of $22.99. The company has a market capitalization of $2,490.00, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.53 and a beta of 1.39.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.52 annualized dividend and a yield of 2.84%. Hope Bancorp’s dividend payout ratio is 43.70%.

In other news, EVP Jason K. Kim sold 6,000 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $18.97, for a total transaction of $113,820.00. Following the transaction, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at approximately $1,341,729.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Koh sold 10,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $17.95, for a total value of $179,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,981 shares of company stock worth $2,303,614. Company insiders own 5.20% of the company’s stock.

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About Hope Bancorp

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.

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

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