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

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) declared 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 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend is Wednesday, May 8th.

Hope Bancorp has a payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.33 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 42.1%.

Hope Bancorp Stock Performance

Shares of HOPE stock traded up $0.09 during trading on Tuesday, reaching $10.02. The company had a trading volume of 1,532,218 shares, compared to its average volume of 677,779. The firm's 50 day simple moving average is $10.92 and its two-hundred day simple moving average is $10.75. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. Hope Bancorp has a one year low of $7.42 and a one year high of $12.51. The company has a market capitalization of $1.21 billion, a PE ratio of 8.95 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) 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). The business had revenue of $123.30 million during the quarter, compared to analyst estimates of $130.42 million. Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The business's quarterly revenue was down 14.9% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. Sell-side analysts forecast that Hope Bancorp will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on HOPE shares. Wedbush lowered their target price on Hope Bancorp from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday. StockNews.com raised Hope Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, January 6th. Finally, DA Davidson raised Hope Bancorp from a "neutral" rating to a "buy" rating and set a $12.50 price objective on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.50.

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.