Hope Bancorp Stock (HOPE): Why The Price Jumped Up Today

By Amit Chowdhry ● Jan 25, 2022
  • The stock price of Hope Bancorp Inc (NASDAQ: HOPE) increased by over 10% during intraday trading today. This is why it happened.

The stock price of Hope Bancorp Inc (NASDAQ: HOPE) increased by over 10% during intraday trading today. Investors responded positively to Hope Bancorp, the holding company of Bank of Hope, announcing that its board of directors has approved a new stock repurchase program authorizing the company to repurchase up to $50 million of its common stock.

KEY QUOTE:

“The strong financial performance for the 2021 fourth quarter further supports our board and management’s confidence in the long-term prospects of our franchise. This new $50 million stock repurchase program underscores our ongoing commitment to returning capital to our shareholders.”

— Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.