Hope Bancorp, Inc. (NASDAQ:HOPE) Plans Quarterly Dividend of $0.14

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders of record on Thursday, February 6th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, February 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Thursday, February 6th.

Hope Bancorp has a payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Hope Bancorp to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 47.1%.

Hope Bancorp Stock Down 4.4 %

Shares of HOPE stock traded down $0.54 during mid-day trading on Tuesday, reaching $11.71. 1,671,131 shares of the company were exchanged, compared to its average volume of 718,156. The company has a market capitalization of $1.41 billion, a P/E ratio of 13.94 and a beta of 1.16. The business’s 50 day simple moving average is $12.70 and its 200 day simple moving average is $12.65. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Hope Bancorp has a fifty-two week low of $9.80 and a fifty-two week high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. Research analysts predict that Hope Bancorp will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOPE has been the topic of several analyst reports. DA Davidson dropped their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

Insider Activity

In related news, EVP Angelee Harris sold 3,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total value of $42,480.00. Following the transaction, the executive vice president now owns 19,795 shares in the company, valued at approximately $280,297.20. This represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the completion of the sale, the director now owns 446,806 shares of the company’s stock, valued at $6,179,326.98. This trade represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,224 shares of company stock worth $1,737,873 in the last ninety days. Corporate insiders own 5.29% of the company’s stock.

About Hope Bancorp

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.