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Hope Bancorp (HOPE) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Hope Bancorp (HOPE - Free Report) reported $116.93 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 20.8%. EPS of $0.22 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of -4.16% over the Zacks Consensus Estimate of $122 million. With the consensus EPS estimate being $0.22, the company has not delivered EPS surprise.
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.
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: $16.24 billion compared to the $16.61 billion average estimate based on two analysts.
Net charge-offs to average loans: 0.1% versus the two-analyst average estimate of 0.1%.
Total noninterest income: $11.07 million compared to the $9.80 million average estimate based on three analysts.
Net Interest Income: $105.86 million versus $112.21 million estimated by three analysts on average.
Service fees on deposit accounts: $2.68 million compared to the $3.32 million average estimate based on two analysts.
Net gains on sales of SBA loans: $1.98 million versus $0.80 million estimated by two analysts on average.
Shares of Hope Bancorp have returned +25.9% over the past month versus the Zacks S&P 500 composite's -0.2% 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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Hope Bancorp (HOPE) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Hope Bancorp (HOPE - Free Report) reported $116.93 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 20.8%. EPS of $0.22 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of -4.16% over the Zacks Consensus Estimate of $122 million. With the consensus EPS estimate being $0.22, the company has not delivered EPS surprise.
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.
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: $16.24 billion compared to the $16.61 billion average estimate based on two analysts.
- Net charge-offs to average loans: 0.1% versus the two-analyst average estimate of 0.1%.
- Total noninterest income: $11.07 million compared to the $9.80 million average estimate based on three analysts.
- Net Interest Income: $105.86 million versus $112.21 million estimated by three analysts on average.
- Service fees on deposit accounts: $2.68 million compared to the $3.32 million average estimate based on two analysts.
- Net gains on sales of SBA loans: $1.98 million versus $0.80 million estimated by two analysts on average.
View all Key Company Metrics for Hope Bancorp here>>>Shares of Hope Bancorp have returned +25.9% over the past month versus the Zacks S&P 500 composite's -0.2% 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.