Empowered Funds takes new $6.79M stake in Hope Bancorp
What's the deal? Empowered Funds LLCDealroom has a profile for this one. Try Dealroom → acquired a new position in Hope BancorpDealroom has a profile for this one. Try Dealroom → during the second quarter, buying 496,619 shares worth roughly $6,794,000, according to its latest Form 13F filing with the Securities and Exchange Commission.
What does the company do? Hope Bancorp is a financial services provider trading on the Nasdaq under the ticker HOPE. It carries a market capitalisation of $1.78 billion and a price-to-earnings ratio of 13.92.
How's the stock? Shares opened at $13.92 on Monday, near the top of a 52-week range that runs from $9.80 to $14.59. The 50-day moving average sits at $13.80, above the 200-day average of $12.64.
What about earnings? Hope Bancorp reported earnings on July 27, posting $0.27 in earnings per share and beating the consensus estimate of $0.26. Revenue reached $147.82 million, edging past the $146.50 million forecast and reversing a loss of $0.22 per share in the same quarter a year earlier.
Who else is buying? Other institutions have adjusted their holdings, including PNC Financial Services GroupDealroom has a profile for this one. Try Dealroom →, Manufacturers Life InsuranceDealroom has a profile for this one. Try Dealroom → and Strs Ohio. Institutional investors own 84% of the company's stock.
The dividend: Hope Bancorp paid a quarterly dividend of $0.14 on August 20, giving an annualised payout of $0.56 and a yield of 4%. The payout ratio stands at 56%.
The signal: A fresh institutional stake, a dividend near a 4% yield, and an earnings beat point to steady confidence in a mid-cap lender trading close to its one-year high.
Read more: tickerreport.com
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