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

Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating) declared a quarterly dividend on Monday, April 18th, Zacks reports. Investors of record on Thursday, April 28th will be given a dividend of 0.14 per share by the financial services provider on Thursday, May 12th. This represents a $0.56 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, April 27th.

Hope Bancorp has a dividend payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hope Bancorp to earn $1.90 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 29.5%.

NASDAQ HOPE opened at $16.10 on Wednesday. The business’s fifty day moving average price is $16.32 and its 200-day moving average price is $15.63. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 9.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.94. Hope Bancorp has a 1-year low of $12.48 and a 1-year high of $17.68.

Hope Bancorp (NASDAQ:HOPEGet Rating) last released its quarterly earnings results on Monday, April 18th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $146.36 million for the quarter, compared to analysts’ expectations of $144.13 million. Hope Bancorp had a return on equity of 9.85% and a net margin of 33.53%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Equities research analysts anticipate that Hope Bancorp will post 1.7 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its position in shares of Hope Bancorp by 0.9% during the fourth quarter. California State Teachers Retirement System now owns 166,960 shares of the financial services provider’s stock valued at $2,456,000 after purchasing an additional 1,471 shares in the last quarter. Allianz Asset Management GmbH grew its position in Hope Bancorp by 1.3% in the fourth quarter. Allianz Asset Management GmbH now owns 242,849 shares of the financial services provider’s stock worth $3,572,000 after acquiring an additional 3,172 shares in the last quarter. Legal & General Group Plc grew its position in Hope Bancorp by 1.6% in the fourth quarter. Legal & General Group Plc now owns 344,654 shares of the financial services provider’s stock worth $5,070,000 after acquiring an additional 5,460 shares in the last quarter. Credit Suisse AG grew its position in Hope Bancorp by 3.5% in the fourth quarter. Credit Suisse AG now owns 176,954 shares of the financial services provider’s stock worth $2,603,000 after acquiring an additional 5,968 shares in the last quarter. Finally, Toroso Investments LLC purchased a new position in Hope Bancorp in the fourth quarter worth about $151,000. Hedge funds and other institutional investors own 83.94% of the company’s stock.

A number of brokerages recently commented on HOPE. StockNews.com cut Hope Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Zacks Investment Research upgraded Hope Bancorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Monday, January 31st.

Hope Bancorp Company Profile (Get Rating)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts 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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