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

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Wednesday, October 28th. Shareholders of record on Saturday, November 7th will be paid a dividend of $0.14 per share by the financial services provider on Friday, November 20th. This represents a $0.56 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, November 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 $1.58 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 35.4%.

Hope Bancorp Stock Performance

HOPE opened at $13.11 on Wednesday. Hope Bancorp has a 52-week low of $9.80 and a 52-week high of $14.59. The company has a quick ratio of 0.97, a current ratio of 0.96 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.68 billion, a P/E ratio of 12.61 and a beta of 0.90. The firm’s 50-day moving average price is $13.70 and its 200-day moving average price is $12.84.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Wednesday, October 28th. The financial services provider reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The company had revenue of $157.48 million during the quarter, compared to analysts’ expectations of $151.34 million. Hope Bancorp had a net margin of 12.90% and a return on equity of 5.97%. During the same period last year, the business earned $0.25 EPS. As a group, equities analysts anticipate that Hope Bancorp will post 1.08 EPS for the current fiscal year.

Institutional Trading of Hope Bancorp

A number of hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in shares of Hope Bancorp during the 3rd quarter worth approximately $25,000. Farther Finance Advisors LLC increased its holdings in shares of Hope Bancorp by 210.0% in the third quarter. Farther Finance Advisors LLC now owns 2,514 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,703 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Hope Bancorp in the second quarter valued at approximately $34,000. Global Retirement Partners LLC purchased a new position in Hope Bancorp during the second quarter worth approximately $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Hope Bancorp during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc is the holding company for Bank of Hope, a full-service commercial bank headquartered in Los Angeles, California. The bank serves businesses, individuals and communities throughout the United States, with a particular focus on Korean American and other multicultural markets.

Bank of Hope offers a range of banking products and services, including business and consumer deposit accounts, commercial and industrial lending, commercial real estate financing, small business loans, residential mortgage lending and wealth management services.