Hope Bancorp, Inc. (HOPE) to Issue Quarterly Dividend of $0.14 on February 20th

Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Investors of record on Thursday, February 6th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, February 20th. This represents a $0.56 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Thursday, February 6th.

Hope Bancorp has a dividend payout ratio of 43.8% meaning 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 Price Performance

Shares of Hope Bancorp stock opened at $11.42 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $12.50 and a 200 day moving average price of $12.63. The firm has a market cap of $1.38 billion, a PE ratio of 13.93 and a beta of 1.15. Hope Bancorp has a twelve month low of $9.80 and a twelve month high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. Sell-side analysts predict that Hope Bancorp will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on HOPE. DA Davidson cut their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Piper Sandler lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Hope Bancorp currently has an average rating of “Hold” and an average price target of $12.88.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Koh sold 96,620 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the sale, the director now directly owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,409 shares of company stock valued at $1,787,381 over the last 90 days. 5.29% of the stock is owned by company 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.