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

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Monday, July 27th. Investors of record on Thursday, August 6th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, August 20th. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, August 6th.

Hope Bancorp has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.59 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 35.2%.

Hope Bancorp Stock Performance

NASDAQ:HOPE opened at $14.19 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.98. The company has a fifty day moving average of $13.27 and a two-hundred day moving average of $12.36. The stock has a market capitalization of $1.81 billion, a PE ratio of 14.19 and a beta of 0.83. Hope Bancorp has a fifty-two week low of $9.70 and a fifty-two week high of $14.28.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The business had revenue of $147.82 million for the quarter, compared to the consensus estimate of $146.50 million. During the same period last year, the firm posted ($0.22) earnings per share. As a group, research analysts forecast that Hope Bancorp will post 1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HOPE shares. Keefe, Bruyette & Woods lifted their price objective on Hope Bancorp from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Monday. DA Davidson increased their target price on Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.50.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.