Hope Bancorp, Inc. (HOPE) To Go Ex-Dividend on May 8th

Hope Bancorp, Inc. (NASDAQ:HOPE) announced a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Friday, May 8th will be paid a dividend of 0.14 per share by the financial services provider on Friday, May 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 8th.

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 $1.59 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

Shares of NASDAQ:HOPE opened at $12.49 on Wednesday. Hope Bancorp has a twelve month low of $9.44 and a twelve month high of $13.02. The firm has a market cap of $1.60 billion, a PE ratio of 24.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.96. The business has a fifty day moving average of $11.65 and a 200-day moving average of $11.37.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $141.02 million during the quarter, compared to analyst estimates of $145.30 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. On average, equities research analysts predict that Hope Bancorp will post 1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

HOPE has been the subject of a number of research reports. Weiss Ratings raised shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Zacks Research raised shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. DA Davidson raised their price target on shares of Hope Bancorp from $14.50 to $15.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price objective on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Monday, April 6th. Finally, Brean Capital upgraded Hope Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

Hope Bancorp Company Profile

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.