Here's What Key Metrics Tell Us About SmarFinancial (SMBK) Q1 Earnings

For the quarter ended March 2024, SmarFinancial (SMBK) reported revenue of $40.1 million, down 6.6% over the same period last year. EPS came in at $0.49, compared to $0.68 in the year-ago quarter.

The reported revenue represents a surprise of +2.88% over the Zacks Consensus Estimate of $38.98 million. With the consensus EPS estimate being $0.41, the EPS surprise was +19.51%.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

  • Efficiency Ratio: 71.2% versus 74.1% estimated by three analysts on average.
  • Net Interest Margin: 2.9% compared to the 2.9% average estimate based on three analysts.
  • Net charge-offs to average loans: 0.1% versus 0.1% estimated by two analysts on average.
  • Average Balance - Total interest earning assets: $4.50 billion versus the two-analyst average estimate of $4.44 billion.
  • Total noninterest income: $8.38 million compared to the $7.54 million average estimate based on three analysts.
  • Mortgage banking: $0.28 million versus $0.23 million estimated by three analysts on average.
  • Net interest income (FTE): $31.81 million compared to the $31.33 million average estimate based on two analysts.
  • Interchange and debit card transaction fees: $1.25 million versus the two-analyst average estimate of $1.45 million.
  • Service charges on deposit accounts: $1.61 million compared to the $1.56 million average estimate based on two analysts.
  • Investment services: $1.38 million versus $1.35 million estimated by two analysts on average.
  • Other noninterest income: $2.75 million compared to the $1.70 million average estimate based on two analysts.
  • Insurance commissions: $1.10 million versus $1.26 million estimated by two analysts on average.
View all Key Company Metrics for SmarFinancial here>>>

Shares of SmarFinancial have returned -1.2% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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