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

Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Friday, May 8th will be given 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% indicating that its dividend is sufficiently covered by earnings. 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

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

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Hope Bancorp had a net margin of 6.56% and a return on equity of 5.32%. The business had revenue of $141.02 million for the quarter, compared to analysts’ expectations of $145.30 million. During the same period in the prior year, the company posted $0.17 EPS. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Analysts expect that Hope Bancorp will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Y. Ha sold 31,020 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $12.48, for a total transaction of $387,129.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HOPE. Global Retirement Partners LLC purchased a new position in shares of Hope Bancorp during the 4th quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in shares of Hope Bancorp during the 4th quarter worth about $29,000. Geneos Wealth Management Inc. lifted its holdings in shares of Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 2,558 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Hope Bancorp by 375.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 2,862 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Hope Bancorp by 61.0% during the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,503 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

About Hope Bancorp

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.