Foundry Partners LLC Has $374,000 Holdings in Hope Bancorp Inc (NASDAQ:HOPE)

Foundry Partners LLC increased its holdings in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,502 shares of the financial services provider’s stock after buying an additional 3,075 shares during the quarter. Foundry Partners LLC’s holdings in Hope Bancorp were worth $374,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in Hope Bancorp by 4.9% during the 4th quarter. Victory Capital Management Inc. now owns 347,162 shares of the financial services provider’s stock worth $5,159,000 after buying an additional 16,303 shares during the period. Chartwell Investment Partners LLC raised its stake in Hope Bancorp by 0.7% during the 4th quarter. Chartwell Investment Partners LLC now owns 624,665 shares of the financial services provider’s stock worth $9,283,000 after buying an additional 4,200 shares during the period. Credit Suisse AG raised its stake in shares of Hope Bancorp by 71.9% in the 4th quarter. Credit Suisse AG now owns 173,715 shares of the financial services provider’s stock valued at $2,581,000 after purchasing an additional 72,656 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Hope Bancorp by 96.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 924,107 shares of the financial services provider’s stock valued at $13,732,000 after purchasing an additional 453,057 shares during the period. Finally, Norges Bank acquired a new stake in shares of Hope Bancorp in the 4th quarter valued at about $28,402,000. 86.36% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:HOPE opened at $9.10 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $8.58 and its 200 day simple moving average is $12.24. The company has a market cap of $1.12 billion, a P/E ratio of 7.40 and a beta of 1.73. Hope Bancorp Inc has a 52-week low of $7.06 and a 52-week high of $15.51.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The company had revenue of $132.56 million during the quarter, compared to analyst estimates of $122.82 million. Hope Bancorp had a net margin of 21.13% and a return on equity of 7.63%. During the same period in the prior year, the firm posted $0.34 EPS. As a group, equities analysts predict that Hope Bancorp Inc will post 0.79 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend was Thursday, May 7th. Hope Bancorp’s dividend payout ratio is currently 41.48%.

Several analysts have issued reports on the company. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, May 7th. TheStreet downgraded Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, March 3rd. Finally, ValuEngine downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd.

About Hope Bancorp

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.

Further Reading: Death Cross

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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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