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

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Monday, April 29th, Zacks reports. Investors of record on Thursday, May 9th will be given 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 yield of 5.63%. The ex-dividend date of this dividend is Wednesday, May 8th.

Hope Bancorp has a dividend payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

HOPE stock opened at $9.95 on Tuesday. The stock has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $10.75. Hope Bancorp has a 1 year low of $7.42 and a 1 year high of $12.51. The stock has a market cap of $1.20 billion, a PE ratio of 8.86 and a beta of 1.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. The firm had revenue of $123.30 million for the quarter, compared to analyst estimates of $130.42 million. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. Equities analysts forecast that Hope Bancorp will post 1.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HOPE. Wedbush decreased their price target on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.50.

About Hope Bancorp

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.