Hope Bancorp, Inc. (NASDAQ:HOPE) to Issue Quarterly Dividend of $0.14

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 given a dividend of 0.14 per share by the financial services provider on Thursday, February 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Thursday, February 6th.

Hope Bancorp has a dividend payout ratio of 40.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hope Bancorp to earn $1.19 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 47.1%.

Hope Bancorp Trading Down 4.4 %

NASDAQ:HOPE traded down $0.54 on Tuesday, reaching $11.71. 2,034,831 shares of the stock traded hands, compared to its average volume of 740,178. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. Hope Bancorp has a 1-year low of $9.80 and a 1-year high of $14.53. The company’s 50 day moving average is $12.70 and its 200-day moving average is $12.65. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.94 and a beta of 1.16.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. Equities research analysts anticipate that Hope Bancorp will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Angelee Harris sold 3,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the sale, the executive vice president now directly owns 19,795 shares of the company’s stock, valued at $280,297.20. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the transaction, the director now directly owns 446,806 shares in the company, valued at approximately $6,179,326.98. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,224 shares of company stock worth $1,737,873. 5.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HOPE has been the subject of a number of research reports. DA Davidson reduced their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

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.