AlphaCrest Capital Management LLC Takes $1.29 Million Position in Hope Bancorp, Inc. (NASDAQ:HOPE)
AlphaCrest Capital Management LLC bought a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 101,971 shares of the financial services provider’s stock, valued at approximately $1,289,000. AlphaCrest Capital Management LLC owned approximately 0.09% of Hope Bancorp at the end of the most recent reporting period.
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Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in shares of Hope Bancorp by 169.2% in the third quarter. Quadrant Capital Group LLC now owns 2,816 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 1,770 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in Hope Bancorp during the third quarter worth approximately $40,000. Royal Bank of Canada lifted its position in Hope Bancorp by 67.9% during the third quarter. Royal Bank of Canada now owns 4,092 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,655 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in Hope Bancorp by 51.3% during the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock worth $63,000 after buying an additional 1,313 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in Hope Bancorp during the third quarter worth approximately $133,000. Hedge funds and other institutional investors own 84.30% of the company’s stock.
Hope Bancorp Stock Performance
Shares of Hope Bancorp stock opened at $12.65 on Friday. Hope Bancorp, Inc. has a one year low of $12.06 and a one year high of $17.10. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 6.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.01. The business’s 50 day moving average price is $12.96 and its 200 day moving average price is $13.45.
Hope Bancorp (NASDAQ:HOPE – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). Hope Bancorp had a return on equity of 10.86% and a net margin of 28.44%. The company had revenue of $236.35 million for the quarter, compared to analysts’ expectations of $168.70 million. During the same quarter in the previous year, the business posted $0.43 EPS. On average, research analysts predict that Hope Bancorp, Inc. will post 1.52 EPS for the current year.
Hope Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Thursday, February 2nd were paid a $0.14 dividend. The ex-dividend date was Wednesday, February 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.43%. Hope Bancorp’s payout ratio is presently 30.94%.
Hope Bancorp Profile
Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. It offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.
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