Hope Bancorp (HOPE) Lags Q3 Earnings and Revenue Estimates

Company Performance - Hope Bancorp reported quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.22 per share, and down from $0.25 per share a year ago, representing an earnings surprise of -4.55% [1] - The company posted revenues of $116.65 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.12%, and down from $143.68 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates just once and has not been able to beat consensus revenue estimates [2] Stock Outlook - Hope Bancorp shares have added about 3.2% since the beginning of the year, underperforming the S&P 500's gain of 21.8% [3] - The current consensus EPS estimate for the coming quarter is $0.23 on revenues of $126.63 million, and for the current fiscal year, it is $0.87 on revenues of $488.53 million [7] - The estimate revisions trend for Hope Bancorp is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Zacks Industry Rank for Banks - West is currently in the bottom 44% of over 250 Zacks industries, suggesting that the industry outlook may negatively impact the stock's performance [8]