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

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) announced a quarterly dividend on Monday, October 28th, RTT News reports. Shareholders of record on Thursday, November 7th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, November 21st. This represents a $0.56 annualized dividend and a yield of 4.47%.

Hope Bancorp has a dividend payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hope Bancorp to earn $1.32 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 42.4%.

Hope Bancorp Price Performance

HOPE traded up $0.06 on Monday, hitting $12.53. 1,074,587 shares of the company's stock were exchanged, compared to its average volume of 764,304. Hope Bancorp has a fifty-two week low of $8.51 and a fifty-two week high of $13.59. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $12.57 and a 200-day moving average price of $11.57. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 14.08 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The company had revenue of $116.90 million for the quarter, compared to analysts' expectations of $121.27 million. During the same quarter in the previous year, the company posted $0.32 EPS. The firm's quarterly revenue was down 20.9% on a year-over-year basis. As a group, equities analysts anticipate that Hope Bancorp will post 0.87 earnings per share for the current year.

Insider Activity at Hope Bancorp

In related news, EVP Thomas Stenger sold 3,200 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.40, for a total transaction of $132,717.20. Following the sale, the director now directly owns 21,538 shares in the company, valued at $267,071.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Stenger sold 3,200 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $12.40, for a total transaction of $39,680.00. Following the sale, the executive vice president now owns 25,952 shares in the company, valued at $321,804.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,831 shares of company stock worth $323,657. Company insiders own 5.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HOPE. Keefe, Bruyette & Woods boosted their price target on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a "market perform" rating in a research report on Tuesday, July 30th. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, October 14th.

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.