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

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Thursday, November 7th will be given 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 dividend yield of 4.49%.

Hope Bancorp has a payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ HOPE opened at $12.47 on Monday. The stock has a fifty day simple moving average of $12.57 and a 200-day simple moving average of $11.57. 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 stock has a market cap of $1.50 billion, a PE ratio of 12.47 and a beta of 1.13. Hope Bancorp has a twelve month low of $8.36 and a twelve month high of $13.59.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $116.90 million for the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The firm’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. Equities analysts anticipate that Hope Bancorp will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HOPE. Keefe, Bruyette & Woods raised their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 14th.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.40, for a total value of $132,717.20. Following the sale, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Jinho Doo sold 10,703 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.40, for a total transaction of $132,717.20. Following the completion of the sale, the director now owns 21,538 shares in the company, valued at $267,071.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now directly owns 109,991 shares in the company, valued at approximately $1,397,985.61. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is currently owned by corporate insiders.

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.