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

Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Monday, July 27th. Investors of record on Thursday, August 6th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, August 6th.

Hope Bancorp has a payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hope Bancorp to earn $1.58 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 35.4%.

Hope Bancorp Trading Up 2.8%

HOPE opened at $13.82 on Tuesday. The stock has a 50-day moving average of $13.09 and a 200 day moving average of $12.26. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17. Hope Bancorp has a 12 month low of $9.44 and a 12 month high of $14.05. The firm has a market cap of $1.77 billion, a P/E ratio of 26.58 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $147.82 million during the quarter, compared to analyst estimates of $146.50 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.During the same period last year, the company earned ($0.22) EPS. As a group, research analysts forecast that Hope Bancorp will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

HOPE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Monday, April 6th. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings raised shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Brean Capital upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Finally, DA Davidson raised their target price on shares of Hope Bancorp from $14.50 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.50.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.