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

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 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date is Wednesday, May 8th.

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

HOPE opened at $9.95 on Tuesday. Hope Bancorp has a 1-year low of $7.42 and a 1-year high of $12.51. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 8.86 and a beta of 1.13. The company’s fifty day moving average price is $10.92 and its two-hundred day moving average price is $10.75. 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 earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. 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 company earned $0.33 EPS. The company’s revenue was down 14.9% on a year-over-year basis. On average, analysts expect that Hope Bancorp will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HOPE. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Tuesday. Finally, Wedbush reduced their target price 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. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Hope Bancorp has a consensus rating of “Hold” and an average 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.