Hope Bancorp Full Year 2024 Earnings: EPS Beats Expectations

Hope Bancorp (NASDAQ:HOPE) Full Year 2024 Results

Key Financial Results

• Revenue: US$457.6m (down 15% from FY 2023).
• Net income: US$99.6m (down 26% from FY 2023).
• Profit margin: 22% (down from 25% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.83 (down from US$1.12 in FY 2023).

HOPE Banking Performance Indicators

• Net interest margin (NIM): 2.55% (down from 2.81% in FY 2023).
• Cost-to-income ratio: 68.4% (up from 63.3% in FY 2023).
• Non-performing loans: 0.67% (up from 0.33% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hope Bancorp EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%.

In the last 12 months, the only revenue segment was Banking contributing US$457.6m. The largest operating expense was General & Administrative costs, amounting to US$247.9m (69% of total expenses). Explore how HOPE's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Hope Bancorp that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.