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

by · The Cerbat Gem

Hope Bancorp, Inc. (NASDAQ:HOPE – Get Free Report) announced a quarterly dividend on Tuesday, January 27th. Shareholders of record on Friday, February 6th will be paid a dividend of 0.14 per share by the financial services provider on Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, February 6th.

Hope Bancorp has a dividend payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.31 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 42.7%.

Hope Bancorp Trading Up 3.3%

HOPE stock traded up $0.39 during midday trading on Tuesday, hitting $12.17. The stock had a trading volume of 718,396 shares, compared to its average volume of 982,284. The firm has a market cap of $1.56 billion, a PE ratio of 31.19 and a beta of 0.86. The company’s 50-day moving average price is $11.18 and its 200 day moving average price is $10.86. Hope Bancorp has a 12-month low of $8.82 and a 12-month high of $12.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94.

Hope Bancorp (NASDAQ:HOPE – Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. The firm had revenue of $145.76 million for the quarter, compared to analysts’ expectations of $142.90 million. During the same period in the previous year, the company posted $0.20 earnings per share. Hope Bancorp’s revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts predict that Hope Bancorp will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Company Profile

(Get Free Report)

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.

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