Brokerages Anticipate Hanmi Financial Corp (NASDAQ:HAFC) Will Post Quarterly Sales of $49.60 Million

Analysts expect that Hanmi Financial Corp (NASDAQ:HAFC) will post $49.60 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Hanmi Financial’s earnings, with the highest sales estimate coming in at $51.80 million and the lowest estimate coming in at $47.80 million. Hanmi Financial posted sales of $50.72 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.2%. The business is scheduled to report its next quarterly earnings report on Friday, October 2nd.

According to Zacks, analysts expect that Hanmi Financial will report full year sales of $203.97 million for the current year, with estimates ranging from $201.80 million to $206.20 million. For the next financial year, analysts forecast that the business will report sales of $196.00 million, with estimates ranging from $193.30 million to $199.50 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Hanmi Financial.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Thursday, April 30th. The bank reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.22). Hanmi Financial had a net margin of 7.56% and a return on equity of 3.63%. The business had revenue of $50.20 million for the quarter, compared to the consensus estimate of $49.26 million.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, June 3rd. BidaskClub lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.50.

HAFC stock opened at $9.66 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $273.72 million, a P/E ratio of 14.41 and a beta of 1.27. The firm has a 50 day simple moving average of $9.29 and a 200 day simple moving average of $13.81. Hanmi Financial has a 52 week low of $7.15 and a 52 week high of $22.60.

In other news, Director John J. Ahn acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $7.78 per share, with a total value of $38,900.00. Following the completion of the acquisition, the director now owns 26,862 shares in the company, valued at approximately $208,986.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Bonita Lee acquired 4,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $7.80 per share, with a total value of $31,200.00. Following the acquisition, the chief executive officer now owns 59,021 shares of the company’s stock, valued at approximately $460,363.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 10,000 shares of company stock valued at $77,710. Corporate insiders own 1.14% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank increased its holdings in shares of Hanmi Financial by 3.6% during the first quarter. Comerica Bank now owns 30,217 shares of the bank’s stock worth $321,000 after buying an additional 1,049 shares in the last quarter. Swiss National Bank increased its holdings in shares of Hanmi Financial by 1.9% in the first quarter. Swiss National Bank now owns 60,300 shares of the bank’s stock valued at $654,000 after purchasing an additional 1,100 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Hanmi Financial by 3.9% in the first quarter. Thrivent Financial for Lutherans now owns 34,350 shares of the bank’s stock valued at $373,000 after purchasing an additional 1,302 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Hanmi Financial by 0.7% in the first quarter. Systematic Financial Management LP now owns 485,607 shares of the bank’s stock valued at $5,269,000 after purchasing an additional 3,156 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Hanmi Financial by 12.9% in the first quarter. SG Americas Securities LLC now owns 30,496 shares of the bank’s stock valued at $331,000 after purchasing an additional 3,477 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

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Earnings History and Estimates for Hanmi Financial (NASDAQ:HAFC)

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