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Hanmi sinks 8.5% after Q4 miss

Jan. 15, 2019 4:32 PM ETHanmi Financial Corporation (HAFC) StockBy: Liz Kiesche, SA News Editor
  • Hanmi Financial (NASDAQ:HAFCplunges 8.5% in after-hours trading Q4 EPS of 37 cents, which includes 9 cents of charges related to tax items.
  • Excluding the one-time tax items, Hanmi earned 46 cents per share in the quarter compared with consensus estimate of 51 cents.
  • Compares with 50 cents in Q3 and 36 cents in the year-ago quarter.
  • “Our results in the fourth quarter reflect our strategic decision to moderate loan growth, protect net interest margin and reduce expenses given the increasingly challenging banking environment," says CEO C.G. Kum.
  • Q4 net interest income of $45.6M slips 0.7% Q/Q and down 1.5% Y/Y.
  • Q4 net interest margin of 3.51% rose from 3.48% in Q3 and fell from 3.79% in Q4 2017.
  • Return on average stockholders' equity of 7.92% retreats from 10.91% in Q3 and 8.12% in the year-ago quarter.
  • Conference call at 5:00 PM ET.
  • Previously: Hanmi Financial misses by $0.14, beats on revenue (Jan. 15)

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