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

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) announced a quarterly dividend on Tuesday, July 22nd, RTT News reports. Investors of record on Friday, August 1st will be given a dividend of 0.14 per share by the financial services provider on Friday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date is Friday, August 1st.

Hope Bancorp has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hope Bancorp to earn $1.31 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 42.7%.

Hope Bancorp Price Performance

NASDAQ HOPE traded down $0.30 on Thursday, reaching $10.41. The company's stock had a trading volume of 1,219,301 shares, compared to its average volume of 934,829. Hope Bancorp has a 52 week low of $8.82 and a 52 week high of $14.53. The company has a current ratio of 0.94, a quick ratio of 0.96 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.33 billion, a PE ratio of 29.74 and a beta of 0.90. The business has a 50-day moving average price of $10.65 and a 200 day moving average price of $10.70.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.43). Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. The firm had revenue of $94.58 million during the quarter, compared to the consensus estimate of $133.90 million. During the same period in the previous year, the company posted $0.22 EPS. Sell-side analysts expect that Hope Bancorp will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its holdings in Hope Bancorp by 294.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider's stock worth $36,000 after purchasing an additional 2,558 shares during the last quarter. Jane Street Group LLC boosted its holdings in Hope Bancorp by 676.8% during the first quarter. Jane Street Group LLC now owns 227,116 shares of the financial services provider's stock worth $2,378,000 after purchasing an additional 197,877 shares during the last quarter. Caxton Associates LLP acquired a new position in Hope Bancorp during the first quarter worth $297,000. Millennium Management LLC boosted its holdings in Hope Bancorp by 147.1% during the first quarter. Millennium Management LLC now owns 492,153 shares of the financial services provider's stock worth $5,153,000 after purchasing an additional 292,994 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hope Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,936 shares of the financial services provider's stock worth $722,000 after purchasing an additional 3,005 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

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.