Hope Bancorp, Inc. (HOPE) to Issue Quarterly Dividend of $0.14 on November 21st

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Monday, October 28th, RTT News reports. Investors 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 yield of 4.49%. The ex-dividend date is Thursday, November 7th.

Hope Bancorp has a dividend payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Wednesday. The stock has a market cap of $1.51 billion, a P/E ratio of 14.01 and a beta of 1.13. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $12.58 and its two-hundred day moving average price is $11.60. Hope Bancorp has a twelve month low of $8.51 and a twelve month high of $13.59.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The company had revenue of $246.92 million during the quarter, compared to analysts’ expectations of $121.67 million. During the same period in the prior year, the business earned $0.25 earnings per share. As a group, equities analysts predict that Hope Bancorp will post 0.87 EPS for the current fiscal year.

Insider Activity

In related news, EVP Thomas Stenger sold 3,200 shares of Hope Bancorp stock in a transaction on Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thomas Stenger sold 3,200 shares of the firm’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 transaction, the executive vice president now directly owns 25,952 shares of the company’s stock, valued at approximately $321,804.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jinho Doo sold 10,703 shares of Hope Bancorp stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of the transaction, the director now owns 21,538 shares in the company, valued at approximately $267,071.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,831 shares of company stock valued at $323,657. Corporate insiders own 5.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on HOPE shares. StockNews.com lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th.

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.