Hope Bancorp, Inc. (HOPE) to Issue Quarterly Dividend of $0.13
Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Investors of record on Tuesday, October 31st will be given a dividend of 0.13 per share by the financial services provider on Tuesday, November 14th. This represents a $0.52 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, October 30th.
Hope Bancorp (HOPE) opened at 17.82 on Thursday. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 16.27 and a beta of 1.41. The company’s 50-day moving average price is $16.89 and its 200 day moving average price is $17.85. Hope Bancorp has a 52-week low of $15.10 and a 52-week high of $22.99.
Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The business had revenue of $132.94 million for the quarter, compared to the consensus estimate of $136.80 million. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. Equities analysts predict that Hope Bancorp will post $1.19 earnings per share for the current fiscal year.
HOPE has been the topic of several recent research reports. FIG Partners downgraded Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, July 26th. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of Hope Bancorp in a research note on Tuesday, June 27th. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 price target on shares of Hope Bancorp in a research note on Thursday, September 7th. Finally, DA Davidson reissued a “buy” rating and issued a $21.00 price target on shares of Hope Bancorp in a research note on Monday, September 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.42.
In related news, Director Donald Byun sold 101,026 shares of Hope Bancorp stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jason K. Kim sold 2,750 shares of Hope Bancorp stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $17.70, for a total value of $48,675.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares in the company, valued at approximately $1,251,903.30. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.
About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
Receive News & Stock Ratings for Hope Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp Inc. and related stocks with our FREE daily email newsletter.