Hope Bancorp (HOPE) Declares $0.14 Dividend

Hope Bancorp said on April 24, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Previously, the company paid $0.14 per share.

Shares must be purchased before the ex-div date of May 3, 2023 to qualify for the dividend. Shareholders of record as of May 4, 2023 will receive the payment on May 18, 2023.

At the current share price of $9.64 / share, the stock's dividend yield is 5.81%. Looking back five years and taking a sample every week, the average dividend yield has been 4.34%, the lowest has been 2.78%, and the highest has been 7.69%. The standard deviation of yields is 1.07 (n=237).

The current dividend yield is 1.37 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

Learn to Harvest Dividends

Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.

What is the Fund Sentiment?

There are 552 funds or institutions reporting positions in Hope Bancorp. This is an increase of 6 owner(s) or 1.10% in the last quarter. Average portfolio weight of all funds dedicated to HOPE is 0.13%, an increase of 6.11%. Total shares owned by institutions increased in the last three months by 2.31% to 129,531K shares. The put/call ratio of HOPE is 11.53, indicating a bearish outlook.

Analyst Price Forecast Suggests 18.51% Upside

As of April 24, 2023, the average one-year price target for Hope Bancorp is 11.42. The forecasts range from a low of 9.60 to a high of $14.18. The average price target represents an increase of 18.51% from its latest reported closing price of 9.64.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Hope Bancorp is 705MM, an increase of 16.37%. The projected annual non-GAAP EPS is 1.80.

What are Other Shareholders Doing?

Fuller & Thaler Asset Management holds 8,272K shares representing 6.91% ownership of the company. In it's prior filing, the firm reported owning 7,065K shares, representing an increase of 14.58%. The firm increased its portfolio allocation in HOPE by 4.64% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 7,990K shares representing 6.67% ownership of the company. No change in the last quarter.

UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 6,732K shares representing 5.62% ownership of the company. In it's prior filing, the firm reported owning 5,743K shares, representing an increase of 14.69%. The firm increased its portfolio allocation in HOPE by 6.23% over the last quarter.

Macquarie Group holds 5,128K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 4,422K shares, representing an increase of 13.78%. The firm increased its portfolio allocation in HOPE by 13.12% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,431K shares representing 2.87% ownership of the company. No change in the last quarter.

Hope Bancorp Background Information
(This description is provided by the company.)

Hope Bancorp, Inc. is the holding company of Bank of Hope, the first and only super regional Korean-American bank in the United States with $17.1 billion in total assets as of December 31, 2020. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 53 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia and Alabama. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, Oregon, New York City, Northern California and Houston; commercial loan production offices in Northern California and Seattle; residential mortgage loan production offices in Southern California; and a representative office in Seoul, Korea. Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender.

This story originally appeared on Fintel.