Systematic Financial Management LP Has $8.91 Million Position in Hope Bancorp Inc (HOPE)

Systematic Financial Management LP decreased its position in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 488,042 shares of the financial services provider’s stock after selling 6,721 shares during the period. Systematic Financial Management LP owned about 0.36% of Hope Bancorp worth $8,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its position in shares of Hope Bancorp by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 55,386 shares of the financial services provider’s stock worth $1,011,000 after acquiring an additional 3,300 shares in the last quarter. Aperio Group LLC boosted its position in shares of Hope Bancorp by 6.0% during the 3rd quarter. Aperio Group LLC now owns 68,244 shares of the financial services provider’s stock worth $1,209,000 after acquiring an additional 3,873 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its position in shares of Hope Bancorp by 3.1% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 141,296 shares of the financial services provider’s stock worth $2,502,000 after acquiring an additional 4,308 shares in the last quarter. Swiss National Bank boosted its position in shares of Hope Bancorp by 2.3% during the 4th quarter. Swiss National Bank now owns 216,657 shares of the financial services provider’s stock worth $3,954,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Hope Bancorp by 1.6% during the 4th quarter. Comerica Bank now owns 315,362 shares of the financial services provider’s stock worth $5,904,000 after acquiring an additional 4,958 shares in the last quarter. Institutional investors and hedge funds own 82.11% of the company’s stock.

HOPE has been the topic of several analyst reports. ValuEngine upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Piper Jaffray Companies reissued a “hold” rating and issued a $22.00 price objective on shares of Hope Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $18.50 price objective on shares of Hope Bancorp in a research note on Thursday, October 26th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Hope Bancorp in a research note on Thursday, November 2nd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Hope Bancorp currently has an average rating of “Hold” and a consensus price target of $19.92.

In other news, EVP David Lee Song sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total transaction of $57,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jason K. Kim sold 10,518 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $18.83, for a total transaction of $198,053.94. Following the transaction, the executive vice president now directly owns 42,964 shares of the company’s stock, valued at approximately $809,012.12. The disclosure for this sale can be found here. Insiders have sold 81,757 shares of company stock valued at $1,544,980 in the last ninety days. Insiders own 5.20% of the company’s stock.

Hope Bancorp Inc (HOPE) opened at $18.39 on Friday. The stock has a market cap of $2,539.49, a price-to-earnings ratio of 15.24, a PEG ratio of 1.19 and a beta of 1.38. Hope Bancorp Inc has a 52 week low of $17.14 and a 52 week high of $19.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 1.07.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm had revenue of $142.84 million during the quarter, compared to the consensus estimate of $139.26 million. Hope Bancorp had a net margin of 21.96% and a return on equity of 8.71%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. sell-side analysts forecast that Hope Bancorp Inc will post 1.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Monday, February 5th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, February 2nd. Hope Bancorp’s payout ratio is currently 50.49%.

TRADEMARK VIOLATION WARNING: “Systematic Financial Management LP Has $8.91 Million Position in Hope Bancorp Inc (HOPE)” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://stocknewstimes.com/2018/02/23/systematic-financial-management-lp-has-8-91-million-position-in-hope-bancorp-inc-hope.html.

Hope Bancorp 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)

Receive News & Ratings for Hope Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply