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Compared to Estimates, SmarFinancial (SMBK) Q2 Earnings: A Look at Key Metrics
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SmarFinancial (SMBK - Free Report) reported $38.71 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 3.9%. EPS of $0.52 for the same period compares to $0.61 a year ago.
The reported revenue represents a surprise of -6.26% over the Zacks Consensus Estimate of $41.29 million. With the consensus EPS estimate being $0.54, the EPS surprise was -3.70%.
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: 70.82% versus the three-analyst average estimate of 67.55%.
Net Interest Margin: 2.93% versus 3.07% estimated by three analysts on average.
Net charge-offs to average loans: -0.01% versus the two-analyst average estimate of 0.1%.
Average Balance - Total interest earning assets: $4.34 billion compared to the $4.50 billion average estimate based on two analysts.
Total noninterest income: $7.13 million versus $7.26 million estimated by three analysts on average.
Mortgage banking: $0.33 million compared to the $0.28 million average estimate based on three analysts.
Net interest income (FTE): $31.67 million compared to the $34.51 million average estimate based on two analysts.
Interchange and debit card transaction fees: $1.35 million versus $1.49 million estimated by two analysts on average.
Service charges on deposit accounts: $1.66 million compared to the $1.57 million average estimate based on two analysts.
Investment services: $1.30 million versus $1.08 million estimated by two analysts on average.
Other noninterest income: $1.36 million versus the two-analyst average estimate of $1.78 million.
Insurance commissions: $1.14 million versus the two-analyst average estimate of $1.16 million.
Shares of SmarFinancial have returned +15.6% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, SmarFinancial (SMBK) Q2 Earnings: A Look at Key Metrics
SmarFinancial (SMBK - Free Report) reported $38.71 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 3.9%. EPS of $0.52 for the same period compares to $0.61 a year ago.
The reported revenue represents a surprise of -6.26% over the Zacks Consensus Estimate of $41.29 million. With the consensus EPS estimate being $0.54, the EPS surprise was -3.70%.
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: 70.82% versus the three-analyst average estimate of 67.55%.
- Net Interest Margin: 2.93% versus 3.07% estimated by three analysts on average.
- Net charge-offs to average loans: -0.01% versus the two-analyst average estimate of 0.1%.
- Average Balance - Total interest earning assets: $4.34 billion compared to the $4.50 billion average estimate based on two analysts.
- Total noninterest income: $7.13 million versus $7.26 million estimated by three analysts on average.
- Mortgage banking: $0.33 million compared to the $0.28 million average estimate based on three analysts.
- Net interest income (FTE): $31.67 million compared to the $34.51 million average estimate based on two analysts.
- Interchange and debit card transaction fees: $1.35 million versus $1.49 million estimated by two analysts on average.
- Service charges on deposit accounts: $1.66 million compared to the $1.57 million average estimate based on two analysts.
- Investment services: $1.30 million versus $1.08 million estimated by two analysts on average.
- Other noninterest income: $1.36 million versus the two-analyst average estimate of $1.78 million.
- Insurance commissions: $1.14 million versus the two-analyst average estimate of $1.16 million.
View all Key Company Metrics for SmarFinancial here>>>Shares of SmarFinancial have returned +15.6% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.