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

Hope Bancorp, Inc. (NASDAQ:HOPE) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Saturday, November 7th will be given a dividend of $0.14 per share by the financial services provider on Friday, November 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, November 6th.

Hope Bancorp has a dividend payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Hope Bancorp to earn $1.60 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 35.0%.

Hope Bancorp Stock Performance

Shares of HOPE opened at $13.88 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98. The stock has a 50 day moving average price of $13.76 and a two-hundred day moving average price of $12.80. The firm has a market capitalization of $1.77 billion, a P/E ratio of 13.88 and a beta of 0.87. Hope Bancorp has a 52 week low of $9.80 and a 52 week high of $14.59.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The firm had revenue of $157.48 million during the quarter, compared to analyst estimates of $151.34 million. During the same quarter in the prior year, the business posted $0.25 EPS. Equities analysts forecast that Hope Bancorp will post 1.14 earnings per share for the current fiscal year.

Insider Activity at Hope Bancorp

In related news, Director Daisy Ha sold 26,995 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the sale, the director directly owned 346,120 shares in the company, valued at approximately $4,928,748.80. This represents a 7.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HOPE. State of Wyoming bought a new stake in Hope Bancorp during the 3rd quarter worth approximately $203,000. SummerHaven Investment Management LLC boosted its holdings in Hope Bancorp by 12.6% in the 3rd quarter. SummerHaven Investment Management LLC now owns 71,603 shares of the financial services provider’s stock valued at $899,000 after purchasing an additional 8,040 shares during the period. Fortitude Family Office LLC bought a new position in Hope Bancorp in the 3rd quarter valued at $25,000. GAMMA Investing LLC grew its position in shares of Hope Bancorp by 21.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,480 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Hope Bancorp by 210.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,514 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,703 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp Company Profile

Hope Bancorp, Inc is the holding company for Bank of Hope, a full-service commercial bank headquartered in Los Angeles, California. The bank serves businesses, individuals and communities throughout the United States, with a particular focus on Korean American and other multicultural markets.

Bank of Hope offers a range of banking products and services, including business and consumer deposit accounts, commercial and industrial lending, commercial real estate financing, small business loans, residential mortgage lending and wealth management services.