Hanmi Financial (NASDAQ:HAFC) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Hanmi Financial (NASDAQ:HAFC) announced its quarterly earnings results on Tuesday. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05, Zacks reports. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%.

Hanmi Financial Stock Down 0.6 %

Shares of Hanmi Financial stock traded down $0.14 on Tuesday, reaching $22.89. The stock had a trading volume of 190,819 shares, compared to its average volume of 192,318. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $691.28 million, a P/E ratio of 11.00 and a beta of 0.89. The company has a 50 day moving average price of $24.33 and a 200 day moving average price of $21.58. Hanmi Financial has a 1 year low of $14.45 and a 1 year high of $27.59.

Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.72%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s dividend payout ratio is presently 48.08%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HAFC shares. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. DA Davidson increased their target price on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Wedbush reaffirmed a “neutral” rating and issued a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Finally, Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.38.

Hanmi Financial Company Profile

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.