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 August 20 to shareholders of record August 6. The dividend implies an annualized payout of $0.56 and a yield of approximately 4.1%.
• The dividend appears well covered, with a current payout ratio of 45.5% and an expected forward payout ratio of 35.4% based on projected earnings of $1.58 per share.
• Hope Bancorp reported quarterly earnings of $0.27 per share, beating analysts’ $0.26 estimate, while revenue of $147.82 million also exceeded expectations. Shares recently traded at $13.82, near their 52-week high of $14.05.

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) declared a quarterly dividend on Monday, July 27th. Shareholders 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) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 6th.

Hope Bancorp has a payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of HOPE stock traded up $0.37 during trading hours on Monday, reaching $13.82. 1,244,750 shares of the company's stock were exchanged, compared to its average volume of 985,754. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.96. The company's 50 day moving average is $13.06 and its two-hundred day moving average is $12.25. The company has a market cap of $1.77 billion, a P/E ratio of 26.58 and a beta of 0.83. Hope Bancorp has a 1 year low of $9.44 and a 1 year high of $14.05.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. The firm had revenue of $147.82 million for the quarter, compared to analyst estimates 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 in the prior year, the company posted ($0.22) earnings per share. Equities research analysts anticipate that Hope Bancorp will post 1.13 EPS for the current fiscal year.

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.

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