Hope Bancorp, Inc. (HOPE) To Go Ex-Dividend on February 1st

Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) announced a quarterly dividend on Monday, January 23rd, Zacks reports. Investors of record on Thursday, February 2nd will be given a dividend of 0.14 per share by the financial services provider on Thursday, February 16th. This represents a $0.56 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Wednesday, February 1st.

Hope Bancorp has a payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hope Bancorp to earn $1.92 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 29.2%.

Hope Bancorp Stock Down 1.1 %

Hope Bancorp stock opened at $12.28 on Wednesday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 6.89 and a beta of 1.21. Hope Bancorp has a 52 week low of $12.16 and a 52 week high of $17.68. The business’s 50-day moving average price is $13.05 and its 200 day moving average price is $13.73. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.71.

Hope Bancorp (NASDAQ:HOPE – Get Rating) last posted its earnings results on Tuesday, January 24th. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.02). The company had revenue of $236.35 million for the quarter, compared to analyst estimates of $168.70 million. Hope Bancorp had a return on equity of 10.88% and a net margin of 28.44%. During the same period last year, the business earned $0.43 earnings per share. As a group, sell-side analysts anticipate that Hope Bancorp will post 1.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on HOPE. StockNews.com began coverage on Hope Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler lowered their price target on Hope Bancorp to $15.00 in a research report on Friday, September 30th. Finally, DA Davidson increased their price target on Hope Bancorp to $14.00 in a research report on Thursday, October 27th.

Hedge Funds Weigh In On Hope Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in HOPE. Royal Bank of Canada lifted its position in shares of Hope Bancorp by 67.9% in the third quarter. Royal Bank of Canada now owns 4,092 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 1,655 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Hope Bancorp by 51.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,313 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Hope Bancorp in the second quarter valued at approximately $142,000. Balyasny Asset Management LLC acquired a new stake in shares of Hope Bancorp in the third quarter valued at approximately $156,000. Finally, Jane Street Group LLC acquired a new stake in shares of Hope Bancorp in the first quarter valued at approximately $163,000. Hedge funds and other institutional investors own 84.30% of the company’s stock.

Hope Bancorp Company Profile

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Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.