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Hope Bancorp (HOPE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2024, Hope Bancorp (HOPE) reported revenue of $123.33 million, down 14.9% over the same period last year. EPS came in at $0.23, compared to $0.33 in the year-ago quarter.

The reported revenue represents a surprise of -6.35% over the Zacks Consensus Estimate of $131.7 million. With the consensus EPS estimate being $0.27, the EPS surprise was -14.81%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Hope Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Interest Margin: 2.6% compared to the 2.7% average estimate based on three analysts.

  • Average Balance - Total interest earning assets: $18.13 billion versus $18.34 billion estimated by two analysts on average.

  • Net charge-offs to average loans: 0.1% versus the two-analyst average estimate of 0.1%.

  • Net Interest Income: $115.05 million compared to the $122.19 million average estimate based on three analysts.

  • Total noninterest income: $8.29 million versus the three-analyst average estimate of $9.36 million.

  • Service fees on deposit accounts: $2.59 million versus the two-analyst average estimate of $2.74 million.

View all Key Company Metrics for Hope Bancorp here>>>

Shares of Hope Bancorp have returned -4.8% over the past month versus the Zacks S&P 500 composite's -2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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