Hope Bancorp Inc (NASDAQ:HOPE) Plans $0.14 Quarterly Dividend

Hope Bancorp Inc (NASDAQ:HOPE) declared a quarterly dividend on Wednesday, January 22nd, Zacks reports. Shareholders of record on Friday, February 7th will be given a dividend of 0.14 per share by the financial services provider on Friday, February 21st. This represents a $0.56 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, February 6th.

Hope Bancorp has increased its dividend by an average of 3.9% annually over the last three years and has raised its dividend every year for the last 3 years. Hope Bancorp has a payout ratio of 45.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.24 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 45.2%.

NASDAQ HOPE opened at $14.64 on Friday. The stock has a market capitalization of $1.85 billion, a PE ratio of 10.76 and a beta of 1.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $14.83 and a two-hundred day simple moving average of $14.32. Hope Bancorp has a 1-year low of $12.29 and a 1-year high of $15.51.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $126.49 million during the quarter, compared to analysts’ expectations of $127.50 million. Hope Bancorp had a return on equity of 8.59% and a net margin of 23.29%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. On average, analysts anticipate that Hope Bancorp will post 1.22 EPS for the current fiscal year.

A number of brokerages have recently commented on HOPE. TheStreet upgraded Hope Bancorp from a “c+” rating to a “b-” rating in a report on Friday, December 13th. Zacks Investment Research upgraded Hope Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, January 8th. Finally, ValuEngine upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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Dividend History for Hope Bancorp (NASDAQ:HOPE)

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