Macquarie Investment Management B recently announced the acquisition of new stake in Hope Bancorp Inc (NASDAQ:HOPE). The institutional investor has increased its shareholding in the Financial company by 6.28% to 5.29 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 4.40% valued currently at $63.86 million. In addition, Geode Capital Management LLC raised its holdings by 0.1 million to 2.53 million shares. And Charles Schwab Investment Managem has lifted its position by 9.21% or 0.15 million shares – to 1.73 million shares.
With over 0.46 million Hope Bancorp Inc (HOPE) shares trading Friday and a closing price of $11.55 on the day, the dollar volume was approximately $5.33 million. The shares have shown a positive half year performance of 30.95% and its price on 01/12/24 lost nearly -0.69%. Currently, there are 119.50M common shares owned by the public and among those 113.88M shares have been available to trade.
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Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 359,461 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 100,574 shares.
The top 3 mutual fund holders in Hope Bancorp Inc are iShares Core S&P Small Cap ETF, Undiscovered Managers Behavioral, and Delaware Small Cap Value Fund. iShares Core S&P Small Cap ETF owns 7.96 million shares of the company’s stock, all valued at over $96.19 million. Undiscovered Managers Behavioral sold -0.43 million shares to see its total holdings shrink to 6.7 million shares valued at over $80.92 million and representing 5.58% of the shares outstanding. Delaware Small Cap Value Fund sold -0.96 million shares to bring its total holdings to over 3.54 million shares at a value of $42.74 million. Delaware Small Cap Value Fund now owns shares totaling to 2.95% of the shares outstanding.
Shares of Hope Bancorp Inc (NASDAQ: HOPE) opened at $11.76, up $0.13 from a prior closing price of $11.63. However, the script later moved the day high at 11.81, down -0.69%. The company’s stock has a 5-day price change of -1.95% and 27.06% over the past three months. HOPE shares are trading -4.39% year to date (YTD), with the 12-month market performance down to -8.77% lower. It has a 12-month low price of $7.42 and touched a high of $13.81 over the same period. HOPE has an average intraday trading volume of 762.83K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.33%, 7.87%, and 21.38% respectively.
Institutional ownership of Hope Bancorp Inc (NASDAQ: HOPE) shares accounts for 83.68% of the company’s 119.50M shares outstanding. Mutual fund holders own 5.86%, while other institutional holders and individual stakeholders account for 56.29% and 27.51% respectively.
It has a market capitalization of $1.39B and a beta (3y monthly) value of 1.14. The stock’s trailing 12-month PE ratio is 8.74, while the earnings-per-share (ttm) stands at $1.32. The company has a PEG of 1.09 and the debt-to-equity ratio at 0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.08% over the week and 2.67% over the month.
Analysts forecast that Hope Bancorp Inc (HOPE) will achieve an EPS of $0.21 for the current quarter, $0.28 for the next quarter and $1.15 for 2024. The lowest estimate earnings-per-share for the quarter is $0.09 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.43 a year ago. Earnings per share for the fiscal year are expected to decrease by -38.12%, and 2.50% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 12.01% over the past 5-year period.
Looking at the support for the HOPE, a number of firms have released research notes about the stock. DA Davidson stated their Neutral rating for the stock in a research note on May 18, 2022, with the firm’s price target at $20-$16.
