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

Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Thursday, August 6th will be given a dividend of 0.14 per share by the financial services provider on Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, August 6th.

Hope Bancorp has a dividend payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.58 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 35.4%.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE traded up $0.37 on Monday, hitting $13.82. The company had a trading volume of 1,244,750 shares, compared to its average volume of 985,754. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17. Hope Bancorp has a 52-week low of $9.44 and a 52-week high of $14.05. The business has a 50 day moving average of $13.06 and a 200 day moving average of $12.25. The company has a market cap of $1.77 billion, a PE ratio of 26.58 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $147.82 million during the quarter, compared to analysts’ expectations of $146.50 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.During the same quarter last year, the business posted ($0.22) EPS. As a group, equities analysts anticipate that Hope Bancorp will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings raised shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Brean Capital upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 1st. DA Davidson lifted their target price on shares of Hope Bancorp from $14.50 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Hope Bancorp has a consensus rating of “Hold” and a consensus price target of $14.50.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.