WBI Investments Inc. Acquires New Holdings in Hope Bancorp Inc (NASDAQ:HOPE)
WBI Investments Inc. acquired a new stake in Hope Bancorp Inc (NASDAQ:HOPE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 48,020 shares of the financial services provider’s stock, valued at approximately $662,000.
A number of other hedge funds and other institutional investors have also modified their holdings of HOPE. Norges Bank bought a new position in Hope Bancorp in the 4th quarter valued at approximately $22,668,000. Acadian Asset Management LLC bought a new position in Hope Bancorp in the 1st quarter valued at approximately $2,843,000. Principal Financial Group Inc. raised its holdings in Hope Bancorp by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 4,503,626 shares of the financial services provider’s stock valued at $58,909,000 after buying an additional 175,913 shares during the last quarter. Geode Capital Management LLC raised its holdings in Hope Bancorp by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 1,410,805 shares of the financial services provider’s stock valued at $16,731,000 after buying an additional 93,846 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Hope Bancorp by 749.4% in the 4th quarter. Two Sigma Investments LP now owns 92,999 shares of the financial services provider’s stock valued at $1,103,000 after buying an additional 82,050 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
HOPE has been the subject of a number of research reports. ValuEngine upgraded shares of Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Zacks Investment Research lowered shares of Zafgen from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.
NASDAQ:HOPE traded up $0.33 on Friday, reaching $14.64. 526,851 shares of the stock traded hands, compared to its average volume of 523,626. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 1.38 and a beta of 1.47. The firm has a 50 day moving average of $13.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.03 and a quick ratio of 1.03. Hope Bancorp Inc has a 1-year low of $11.37 and a 1-year high of $17.92.
Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $129.51 million for the quarter, compared to analyst estimates of $133.30 million. Hope Bancorp had a net margin of 23.98% and a return on equity of 9.12%. During the same period in the prior year, the company posted $0.36 EPS. On average, sell-side analysts predict that Hope Bancorp Inc will post 1.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, July 25th. Hope Bancorp’s dividend payout ratio is presently 38.89%.
Hope Bancorp Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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