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

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Investors of record on Thursday, February 6th will be given a dividend of 0.14 per share by the financial services provider on Thursday, February 20th. This represents a $0.56 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Thursday, February 6th.

Hope Bancorp has a dividend payout ratio of 40.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hope Bancorp to earn $1.29 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 43.4%.

Hope Bancorp Trading Down 0.9 %

HOPE traded down $0.11 during midday trading on Friday, reaching $11.66. 303,724 shares of the company were exchanged, compared to its average volume of 740,533. The stock has a market capitalization of $1.41 billion, a P/E ratio of 14.21 and a beta of 1.16. Hope Bancorp has a one year low of $9.80 and a one year high of $14.53. The stock's 50-day simple moving average is $12.60 and its 200 day simple moving average is $12.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. As a group, analysts forecast that Hope Bancorp will post 1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on HOPE. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. DA Davidson lowered their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday. Finally, Piper Sandler cut their price objective on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.88.

Insiders Place Their Bets

In related news, Director Steven Koh sold 96,620 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the transaction, the director now owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Angelee Harris sold 3,000 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now directly owns 19,795 shares of the company's stock, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,224 shares of company stock worth $1,737,873. Corporate insiders own 5.29% of the company's stock.

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.