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Hanmi Financial: 1Q Earnings Snapshot

LOS ANGELES (AP) _ Hanmi Financial Corp. (HAFC) on Thursday reported first-quarter earnings of $2.4 million.

The Los Angeles-based bank said it had earnings of 8 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The bank holding company posted revenue of $65.1 million in the period. Its revenue net of interest expense was $50.2 million, topping Street forecasts. Four analysts surveyed by Zacks expected $49.3 million.

Hanmi Financial shares have declined 40% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.07, a drop of 49% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HAFC at https://www.zacks.com/ap/HAFC