Dana Investment Advisors Inc. Sells 7,059 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Dana Investment Advisors Inc. trimmed its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 525,069 shares of the financial services provider’s stock after selling 7,059 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.44% of Hope Bancorp worth $5,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in Hope Bancorp by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after buying an additional 1,200 shares during the period. Bridge City Capital LLC lifted its holdings in shares of Hope Bancorp by 0.8% during the first quarter. Bridge City Capital LLC now owns 167,405 shares of the financial services provider’s stock worth $1,927,000 after purchasing an additional 1,263 shares during the period. Inspire Investing LLC grew its stake in shares of Hope Bancorp by 4.5% in the second quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 1,413 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in Hope Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 105,134 shares of the financial services provider’s stock valued at $1,210,000 after purchasing an additional 1,422 shares during the period. Finally, SummerHaven Investment Management LLC raised its position in Hope Bancorp by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 1,484 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HOPE has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the sale, the director now directly owns 109,991 shares in the company, valued at $1,397,985.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the transaction, the director now owns 109,991 shares in the company, valued at $1,397,985.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at $321,804.80. The disclosure for this sale can be found here. Insiders have sold 25,831 shares of company stock worth $323,657 in the last quarter. Company insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

HOPE stock opened at $12.17 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $12.44 and its 200 day simple moving average is $11.36. Hope Bancorp, Inc. has a 12-month low of $8.15 and a 12-month high of $13.59. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 12.17 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $116.90 million for the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The firm’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. On average, analysts expect that Hope Bancorp, Inc. will post 0.89 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 annualized dividend and a dividend yield of 4.60%. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Hope Bancorp Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.