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

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Monday, April 29th, Zacks reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, May 23rd. This represents a $0.56 annualized dividend and a yield of 5.17%. The ex-dividend date is Wednesday, May 8th.

Hope Bancorp has a payout ratio of 42.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.43 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 39.2%.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $10.84 on Monday. Hope Bancorp has a one year low of $7.42 and a one year high of $12.51. The firm has a market cap of $1.31 billion, a PE ratio of 10.84 and a beta of 1.15. The firm has a fifty day moving average of $10.87 and a 200 day moving average of $10.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.00.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $130.42 million. During the same period in the previous year, the company earned $0.33 EPS. Hope Bancorp’s quarterly revenue was down 14.9% compared to the same quarter last year. As a group, research analysts predict that Hope Bancorp will post 0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOPE has been the subject of a number of research reports. Wedbush dropped their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price for the company in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.83.

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.