Equities Analysts Issue Forecasts for Hanmi Financial Co.’s Q3 2024 Earnings (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Stock analysts at Wedbush raised their Q3 2024 EPS estimates for Hanmi Financial in a research report issued on Wednesday, April 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $0.59 for the quarter, up from their previous estimate of $0.58. Wedbush currently has a “Neutral” rating and a $17.00 price target on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.10 per share. Wedbush also issued estimates for Hanmi Financial’s Q4 2024 earnings at $0.57 EPS.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Hanmi Financial had a return on equity of 10.70% and a net margin of 17.63%. The company had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price target (down previously from $18.50) on shares of Hanmi Financial in a research note on Wednesday.

Hanmi Financial Stock Up 1.2 %

HAFC stock opened at $15.82 on Thursday. The company has a market cap of $479.03 million, a PE ratio of 6.59 and a beta of 0.95. The business has a 50-day simple moving average of $15.24 and a 200 day simple moving average of $16.43. Hanmi Financial has a 52 week low of $13.35 and a 52 week high of $20.31. The company has a quick ratio of 1.00, a current ratio of 0.98 and a debt-to-equity ratio of 0.43.

Institutional Trading of Hanmi Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in Hanmi Financial by 151.2% in the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock valued at $7,061,000 after buying an additional 266,949 shares during the period. Allspring Global Investments Holdings LLC raised its position in Hanmi Financial by 10.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after buying an additional 1,730 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Hanmi Financial by 18.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock valued at $308,000 after purchasing an additional 3,030 shares during the period. PNC Financial Services Group Inc. grew its stake in Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,441 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its stake in Hanmi Financial by 48.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 40,743 shares of the bank’s stock valued at $790,000 after purchasing an additional 13,297 shares during the period. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Friday, May 3rd. Hanmi Financial’s dividend payout ratio (DPR) is currently 41.67%.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.