Hope Bancorp Stock Price, News & Analysis

Hope Bancorp, Inc. (NASDAQ: HOPE) has declared a quarterly cash dividend of $0.14 per common share, payable on or about November 18, 2021 to stockholders of record as of the close of business on November 4, 2021. The announcement highlights the company’s ongoing commitment to returning value to shareholders. Additionally, an investor conference call is scheduled for October 26, 2021 to discuss financial results for Q3 2021.

Hope Bancorp, Inc. (NASDAQ: HOPE) reported a 3% rise in Q3 net income to $55.5 million, or $0.45 per diluted share, up significantly from $30.5 million a year ago. Record loan origination reached $1.01 billion, with a notable 51% decrease in nonaccrual loans. Total deposits rose to a record $15.1 billion, primarily from noninterest bearing demand deposits. The company announced a negative provision for credit losses of $10.0 million, reflecting improved asset quality. The return on average equity increased to 10.61%, showcasing enhanced profitability.

Hope Bancorp (NASDAQ: HOPE) will report its 2021 third quarter financial results on October 25, 2021, after market close. A conference call is scheduled for October 26, 2021, at 9:30 a.m. PT to discuss these results. The presentation deck will be available on the company's investor relations website. Hope Bancorp is the holding company of Bank of Hope, which specializes in banking products for small and medium-sized businesses and has total assets of $17.5 billion as of June 30, 2021.

Hope Bancorp, Inc. (NASDAQ: HOPE) announced the appointment of Mary E. Thigpen to its Board of Directors effective August 1, 2021. This increase in board membership from 10 to 11 aims to enhance diversity and strengthen oversight in technology and cybersecurity. Thigpen brings over 38 years of experience from various leadership roles in technology and communications, including as CEO of OpsDataStore. Her expertise is expected to add value to the company's strategic initiatives. Hope Bancorp, with $17.47 billion in assets, serves a diverse customer base through its Bank of Hope branches across multiple states.

Hope Bancorp, Inc. (NASDAQ: HOPE) announced a new stock repurchase program allowing the buyback of up to $50 million in common stock. This decision, endorsed by management, reflects confidence in the company's improved operational performance post-COVID-19. The program aims to enhance long-term shareholder value by redeploying excess capital at favorable valuations. Notably, there is no expiration for this authorization, and repurchases will adapt based on market conditions and trading volume.

Hope Bancorp, Inc. (NASDAQ: HOPE) declared a quarterly cash dividend of $0.14 per common share, payable on August 13, 2021, to stockholders of record by the close of business on July 30, 2021. The company will host an investor conference call on July 21, 2021, at 9:30 a.m. PT to review financial results for its second quarter ending June 30, 2021. With assets of $17.47 billion, Hope Bancorp serves a diverse customer base across the U.S.

Hope Bancorp (NASDAQ: HOPE) reported a 23% increase in net income for Q2 2021, reaching $53.8 million or $0.43 per diluted share, compared to $43.7 million in Q1 2021. The quarter also saw a 61% surge in loan originations, totaling $894 million, despite a 2% decrease in loans receivable due to strategic loan sales and forgiveness. The net interest margin expanded to 3.11%, supported by lower deposit costs. Additionally, the company recorded a negative provision for credit losses of $7 million, reflecting improved economic conditions.

Hope Bancorp, Inc. (NASDAQ: HOPE) will announce its Q2 2021 financial results on July 20, 2021, post-market. A conference call is set for July 21, 2021, at 9:30 a.m. PT to discuss these results. The company's total assets reached $17.2 billion as of March 31, 2021, with 53 branches nationwide, focusing on business banking and real estate lending. The call can be accessed via phone or a live webcast, with archived access available for a year after.

Hope Bancorp, Inc. (NASDAQ: HOPE) declared a quarterly cash dividend of $0.14 per common share, payable on or about May 21, 2021, to stockholders recorded by May 7, 2021. The company will also host an investor conference call on April 28, 2021, at 9:30 a.m. PT to discuss its first quarter financial results ending March 31, 2021. Hope Bancorp, with $17.2 billion in total assets, serves a diverse customer base through its 53 branches across multiple states and specializes in banking products for small and medium-sized businesses.