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

Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Monday, April 29th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend is Wednesday, May 8th.

Hope Bancorp has a payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. 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

HOPE stock opened at $9.93 on Tuesday. Hope Bancorp has a 1-year low of $7.42 and a 1-year high of $12.51. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.20 billion, a PE ratio of 8.86 and a beta of 1.13. The business’s 50-day moving average price is $10.92 and its two-hundred day moving average price is $10.75.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data 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). Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The business had revenue of $123.30 million during the quarter, compared to analyst estimates of $130.42 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Hope Bancorp’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, research analysts forecast that Hope Bancorp will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

HOPE has been the topic of several research reports. Wedbush cut their price objective on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Tuesday. Finally, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.