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

Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Thursday, November 7th will be given a dividend of 0.14 per share by the financial services provider on Thursday, November 21st. This represents a $0.56 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, November 7th.

Hope Bancorp has a dividend payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hope Bancorp to earn $1.32 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 42.4%.

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $12.47 on Wednesday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.01 and a beta of 1.13. The stock has a fifty day moving average of $12.58 and a 200 day moving average of $11.60. Hope Bancorp has a 52 week low of $8.51 and a 52 week high of $13.59. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The company had revenue of $246.92 million during the quarter, compared to analysts’ expectations of $121.67 million. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, research analysts expect that Hope Bancorp will post 0.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on HOPE shares. StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th.

Insider Activity

In related news, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the sale, the director now owns 109,991 shares in the company, valued at $1,397,985.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the sale, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jinho Doo sold 10,703 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of the sale, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,831 shares of company stock worth $323,657. Insiders own 5.29% of the company’s stock.

Hope Bancorp Company 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.