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

by · The Cerbat Gem

Hope Bancorp, Inc. (NASDAQ:HOPE – Get Free Report) declared a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Thursday, November 7th will be given a dividend of 0.14 per share by the financial services provider on Thursday, November 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Thursday, November 7th.

Hope Bancorp has a payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hope Bancorp to earn $1.19 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 47.1%.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $12.49 on Wednesday. The company has a 50-day moving average of $12.56 and a 200-day moving average of $11.67. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.87 and a beta of 1.13. Hope Bancorp has a 52 week low of $9.02 and a 52 week high of $13.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE – Get Free Report) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter last year, the business earned $0.25 EPS. As a group, equities research analysts anticipate that Hope Bancorp will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on HOPE. StockNews.com cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th.

Read Our Latest Stock Report on HOPE

Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00. Following the transaction, the executive vice president now directly owns 25,952 shares in the company, valued at approximately $321,804.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Thomas Stenger sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at $321,804.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now directly owns 109,991 shares of the company’s stock, valued at $1,397,985.61. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,831 shares of company stock valued at $323,657 over the last 90 days. 5.29% of the stock is owned by corporate insiders.

Hope Bancorp Company Profile

(Get Free Report)

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.

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