Hope Bancorp, Inc. (HOPE) to Issue Quarterly Dividend of $0.14 on May 23rd

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Monday, April 29th, Zacks reports. Investors of record on Thursday, May 9th will be given a dividend of 0.14 per share by the financial services provider on Thursday, May 23rd. This represents a $0.56 annualized dividend and a yield of 5.17%. The ex-dividend date is Wednesday, May 8th.

Hope Bancorp has a payout ratio of 42.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.43 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 39.2%.

Hope Bancorp Trading Up 2.2 %

NASDAQ:HOPE opened at $10.84 on Monday. Hope Bancorp has a one year low of $7.42 and a one year high of $12.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $10.78. The firm has a market capitalization of $1.31 billion, a P/E ratio of 10.84 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business had revenue of $123.30 million for the quarter, compared to the consensus estimate of $130.42 million. During the same period in the previous year, the firm earned $0.33 EPS. The company’s revenue was down 14.9% on a year-over-year basis. As a group, analysts forecast that Hope Bancorp will post 0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HOPE has been the topic of several analyst reports. Wedbush dropped their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. DA Davidson upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.83.

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.