Martingale Asset Management L P lowered its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) by 38.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,150 shares of the financial services provider's stock after selling 32,341 shares during the period. Martingale Asset Management L P's holdings in Hope Bancorp were worth $839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Creek Investment Advisors LLC bought a new stake in shares of Hope Bancorp during the first quarter worth about $1,037,000. C M Bidwell & Associates Ltd. acquired a new position in Hope Bancorp in the 1st quarter valued at approximately $246,000. Journey Strategic Wealth LLC bought a new position in shares of Hope Bancorp during the fourth quarter valued at $152,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Hope Bancorp by 13.6% during the first quarter. Hillsdale Investment Management Inc. now owns 390,050 shares of the financial services provider's stock worth $6,272,000 after purchasing an additional 46,650 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Hope Bancorp by 14.6% in the first quarter. Assenagon Asset Management S.A. now owns 569,146 shares of the financial services provider's stock worth $9,152,000 after purchasing an additional 72,381 shares during the last quarter. Institutional investors and hedge funds own 86.82% of the company's stock.

Hope Bancorp Stock Performance

HOPE stock opened at $14.28 on Monday. Hope Bancorp, Inc. has a 1-year low of $13.00 and a 1-year high of $17.68. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $14.60 and a 200-day moving average price of $15.09. The firm has a market cap of $1.71 billion, a PE ratio of 7.89 and a beta of 1.24.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, July 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.92%. Hope Bancorp's payout ratio is presently 30.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HOPE shares. Wedbush raised their target price on Hope Bancorp to $16.00 in a research report on Friday, July 22nd. StockNews.com upgraded Hope Bancorp from a "hold" rating to a "buy" rating in a report on Thursday, June 23rd. Piper Sandler lowered their price target on shares of Hope Bancorp to $16.00 in a report on Monday, July 4th. Finally, DA Davidson downgraded shares of Hope Bancorp from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $20.00 to $16.00 in a research report on Wednesday, May 18th.

Hope Bancorp Company Profile

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Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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