Hanmi Financial (HAFC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2024, Hanmi Financial (HAFC) reported revenue of $58.39 million, down 11.8% over the same period last year. EPS came in at $0.50, compared to $0.72 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $58.83 million, representing a surprise of -0.76%. The company delivered an EPS surprise of -3.85%, with the consensus EPS estimate being $0.52.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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

• Efficiency Ratio: 62.4% versus 57.7% estimated by three analysts on average.

• Net interest margin: 2.8% compared to the 2.9% average estimate based on three analysts.

• Average Balance - Total interest-earning assets: $7.33 billion versus the two-analyst average estimate of $7.37 billion.

• Net loan charge-offs (recoveries) to average loans: 0.1% compared to the 0.2% average estimate based on two analysts.

• Total Non-interest income: $7.73 million compared to the $7.91 million average estimate based on three analysts.

• Net Interest Income: $50.66 million versus the two-analyst average estimate of $51.35 million.

• Net Interest Income (tax equivalent basis): $50.66 million compared to the $51.25 million average estimate based on two analysts.

• Service charges on deposit accounts: $2.45 million compared to the $2.69 million average estimate based on two analysts.

• Other operating income: $0.93 million versus the two-analyst average estimate of $2.43 million.

• Trade finance & other service charges and fees: $1.41 million versus $1.13 million estimated by two analysts on average.

View all Key Company Metrics for Hanmi Financial here>>>

Shares of Hanmi Financial have returned -1% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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