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Hope Bancorp Inc (HOPE)
NASDAQ:HOPE
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Earnings Data
Report Date
Jan 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.14Last Year’s EPS
$0.22Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: 0.18%
|Next Earnings Date:Jan 28, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with strong core deposit growth and record capital ratios being notable positives. However, challenges such as a decline in net interest margin, an increase in criticized loans, and higher provisions for credit losses balance out these achievements.Company Guidance
During the Hope Bancorp 2024 Third Quarter Earnings Call, guidance for the fourth quarter of 2024 was provided, indicating expectations for continued growth and financial stability. The company anticipates low-single-digit percentage growth in average loans quarter-over-quarter, alongside an increase in net interest income driven by positive loan growth and strategic deposit rate management. The firm projects interest income benefits from these factors, while interest expense is expected to decrease due to continued deposit rate adjustments. The Fed funds rate is aligned with the forward interest rate curve, predicting a 4.5% rate by December 31, 2024. Noninterest income is expected to maintain levels similar to the third quarter, particularly with SBA loan sales, while operating expenses are projected to remain stable, excluding notable items. Overall, Hope Bancorp aims for positive operating leverage and stable reserve coverage, which was 113 basis points of loans as of September 30, 2024.Strong Core Deposit Growth
Customer deposits grew a strong 11% annualized from June 30, 2024, which supported loan growth and offset a planned reduction in brokered deposits.
Record Risk-Based Capital Ratios
Hope Bancorp's September 30, 2024 risk-based capital ratios were the highest since merging with Wilshire in 2016, with a total capital ratio of 14.8% and a tangible common equity ratio of 10.1%.
Increase in Noninterest Income
Noninterest income was $11.8 million for the third quarter, an increase of 7% from the second quarter, primarily due to a higher level of gain on sale of SBA loans.
Positive Outlook for Loan Growth
The outlook for average loans is to grow at a percentage rate in the low single digits quarter-over-quarter, building on momentum from the third quarter.
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HOPE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HOPE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $12.35 | $12.41 | +0.49% |
| Jul 29, 2024 | $13.23 | $12.68 | -4.16% |
| Apr 29, 2024 | $10.58 | $9.58 | -9.45% |
| Jan 30, 2024 | $11.39 | $10.88 | -4.48% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Hope Bancorp Inc (HOPE) report earnings?
Hope Bancorp Inc (HOPE) is schdueled to report earning on Jan 28, 2025, TBA Not Confirmed.
What is Hope Bancorp Inc (HOPE) earnings time?
Hope Bancorp Inc (HOPE) earnings time is at Jan 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HOPE EPS forecast?
HOPE EPS forecast for the fiscal quarter 2024 (Q4) is $0.14.
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