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

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Monday, April 29th, Zacks reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.14 per share by the financial services provider on Thursday, May 23rd. This represents a $0.56 dividend on an annualized basis and a dividend 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. Research 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 Stock Performance

Shares of Hope Bancorp stock opened at $10.83 on Tuesday. Hope Bancorp has a 1 year low of $7.45 and a 1 year high of $12.51. The firm’s 50-day moving average is $10.87 and its 200 day moving average is $10.80. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 10.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). The firm had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The company’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. Sell-side analysts anticipate that Hope Bancorp will post 0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. DA Davidson raised Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Tuesday, April 30th. Wedbush decreased their price objective 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. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research 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 currently has an average rating of “Hold” and a consensus target price of $11.83.

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.