Hotchkis & Wiley Capital Management LLC Purchases New Stake in Hope Bancorp, Inc. (HOPE)

Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,543 shares of the financial services provider’s stock, valued at approximately $187,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HOPE. Bank of Montreal Can grew its position 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 acquiring an additional 122 shares during the period. Aperio Group LLC grew its position in shares of Hope Bancorp by 9.9% during the 2nd quarter. Aperio Group LLC now owns 64,371 shares of the financial services provider’s stock valued at $1,201,000 after acquiring an additional 5,801 shares during the period. US Bancorp DE grew its position in shares of Hope Bancorp by 3.8% during the 2nd quarter. US Bancorp DE now owns 84,484 shares of the financial services provider’s stock valued at $1,577,000 after acquiring an additional 3,106 shares during the period. Russell Investments Group Ltd. grew its position in shares of Hope Bancorp by 71.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 51,230 shares of the financial services provider’s stock valued at $955,000 after acquiring an additional 21,274 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Hope Bancorp by 3.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,011 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 970 shares during the period. 80.58% of the stock is currently owned by institutional investors.

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) opened at $18.76 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. Hope Bancorp, Inc. has a twelve month low of $17.14 and a twelve month high of $19.42. The stock has a market capitalization of $2,536.53, a PE ratio of 15.34, a P/E/G ratio of 1.56 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 Thomson Reuters’ 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 company had revenue of $139.51 million for the quarter, compared to analysts’ expectations of $137.93 million. During the same period in the previous year, the firm 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, October 30th. Hope Bancorp’s dividend payout ratio (DPR) is 43.33%.

In other Hope Bancorp news, EVP David Lee Song sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total value of $57,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jason K. Kim sold 3,669 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $18.25, for a total transaction of $66,959.25. Following the completion of the transaction, the executive vice president now directly owns 67,060 shares in the company, valued at $1,223,845. The disclosure for this sale can be found here. Insiders sold a total of 121,981 shares of company stock worth $2,303,614 over the last three months. Corporate insiders own 5.20% of the company’s stock.

A number of equities research analysts have recently commented on the company. FIG Partners cut Hope Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $20.00 to $17.00 in a research report on Friday, September 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 price objective on shares of Hope Bancorp in a report on Thursday, September 7th. ValuEngine upgraded Hope Bancorp from a “hold” rating to a “buy” rating in a report on Friday. Raymond James Financial reiterated a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. Finally, DA Davidson reiterated a “buy” rating and issued a $21.00 price objective on shares of Hope Bancorp in a report on Monday, September 18th. 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 target price of $19.58.

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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)

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