Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Investors of record on Thursday, February 2nd will be paid 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 dividend payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance
Shares of HOPE stock opened at $12.28 on Wednesday. The stock has a market capitalization of $1.47 billion, a PE 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 stock’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.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. StockNews.com assumed coverage on Hope Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler dropped their target price on Hope Bancorp to $15.00 in a research report on Friday, September 30th. Finally, DA Davidson boosted their price target on Hope Bancorp to $14.00 in a research note on Thursday, October 27th.
Institutional Investors Weigh In On Hope Bancorp
Several institutional investors have recently modified their holdings of HOPE. Goldman Sachs Group Inc. lifted its stake in Hope Bancorp by 89.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,308,837 shares of the financial services provider’s stock valued at $31,954,000 after buying an additional 1,092,042 shares in the last quarter. State Street Corp lifted its stake in shares of Hope Bancorp by 7.2% during the 1st quarter. State Street Corp now owns 7,013,612 shares of the financial services provider’s stock worth $112,779,000 after purchasing an additional 469,232 shares during the period. Quantedge Capital Pte Ltd purchased a new position in shares of Hope Bancorp during the 1st quarter worth $1,952,000. AQR Capital Management LLC lifted its stake in shares of Hope Bancorp by 438.2% during the 2nd quarter. AQR Capital Management LLC now owns 141,989 shares of the financial services provider’s stock worth $1,965,000 after purchasing an additional 115,608 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Hope Bancorp by 0.6% during the 1st quarter. BlackRock Inc. now owns 17,720,919 shares of the financial services provider’s stock worth $284,954,000 after purchasing an additional 105,803 shares during the period. Hedge funds and other institutional investors own 84.30% of the company’s stock.
About Hope Bancorp
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.
- Get a free copy of the StockNews.com research report on Hope Bancorp (HOPE)
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