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

Key Points

• Hope Bancorp declared a quarterly dividend of $0.14 per share, payable November 20 to shareholders of record November 7. The dividend implies an annualized payout of $0.56 and a 4.0% yield.
• The dividend appears well covered, with a current payout ratio of 45.5%; analysts expect next year’s earnings to support an estimated payout ratio of 35.0%.
• Hope Bancorp reported quarterly EPS of $0.29, in line with estimates, while revenue of $157.48 million exceeded expectations of $151.34 million.

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Saturday, November 7th will be paid a dividend of $0.14 per share by the financial services provider on Friday, November 20th. This represents a $0.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, November 6th.

Hope Bancorp has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.60 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 35.0%.

Hope Bancorp Stock Performance

HOPE opened at $13.88 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 13.88 and a beta of 0.87. The company's 50 day moving average is $13.76 and its 200 day moving average is $12.80. Hope Bancorp has a 12-month low of $9.80 and a 12-month high of $14.59.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The company had revenue of $157.48 million during the quarter, compared to analyst estimates of $151.34 million. During the same period in the previous year, the business posted $0.25 earnings per share. On average, equities research analysts predict that Hope Bancorp will post 1.14 EPS for the current year.

Hope Bancorp Company Profile

Hope Bancorp, Inc is the holding company for Bank of Hope, a full-service commercial bank headquartered in Los Angeles, California. The bank serves businesses, individuals and communities throughout the United States, with a particular focus on Korean American and other multicultural markets.

Bank of Hope offers a range of banking products and services, including business and consumer deposit accounts, commercial and industrial lending, commercial real estate financing, small business loans, residential mortgage lending and wealth management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.