Hennessy Advisors Inc. decreased its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 21.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,000 shares of the financial services provider’s stock after selling 40,000 shares during the quarter. Hennessy Advisors Inc. owned 0.11% of Hope Bancorp worth $2,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of HOPE. BlackRock Inc. grew its holdings in shares of Hope Bancorp by 49,191.5% during the first quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock worth $302,299,000 after purchasing an additional 15,737,358 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Hope Bancorp by 295.1% during the second quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock worth $72,381,000 after purchasing an additional 2,898,811 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hope Bancorp by 45.7% during the first quarter. Victory Capital Management Inc. now owns 2,108,798 shares of the financial services provider’s stock worth $40,426,000 after purchasing an additional 661,045 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hope Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock worth $227,477,000 after purchasing an additional 608,014 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in shares of Hope Bancorp by 38.2% during the first quarter. Kennedy Capital Management Inc. now owns 1,633,153 shares of the financial services provider’s stock worth $31,308,000 after purchasing an additional 451,183 shares in the last quarter. 79.47% of the stock is owned by institutional investors.

In other Hope Bancorp news, Director Donald Byun sold 101,026 shares of Hope Bancorp stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jason K. Kim sold 2,750 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total value of $48,675.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares in the company, valued at approximately $1,251,903.30. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price objective on shares of Hope Bancorp in a report on Thursday. ValuEngine lowered Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. FIG Partners lowered Hope Bancorp from an “outperform” rating to a “market-perform” rating in a report on Wednesday, July 26th. Finally, Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of Hope Bancorp in a report on Tuesday, June 27th. Six investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $20.00.

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) opened at 15.44 on Monday. Hope Bancorp, Inc. has a 52 week low of $15.10 and a 52 week high of $22.99. The firm has a 50-day moving average price of $16.78 and a 200 day moving average price of $18.51. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 14.10 and a beta of 1.39.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.02. The business had revenue of $132.94 million for the quarter, compared to the consensus estimate of $136.80 million. Hope Bancorp had a net margin of 24.38% and a return on equity of 8.45%. On average, analysts forecast that Hope Bancorp, Inc. will post $1.20 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were paid a $0.13 dividend. This is an increase from Hope Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, July 27th. This represents a $0.52 dividend on an annualized basis and a yield of 3.37%. Hope Bancorp’s payout ratio is presently 47.71%.

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About Hope Bancorp

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

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

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