Analysts Anticipate Hanmi Financial Corp (NASDAQ:HAFC) to Announce $0.29 EPS

Wall Street analysts expect Hanmi Financial Corp (NASDAQ:HAFC) to report earnings per share (EPS) of $0.29 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Hanmi Financial’s earnings, with estimates ranging from $0.14 to $0.41. Hanmi Financial posted earnings per share of $0.09 in the same quarter last year, which indicates a positive year-over-year growth rate of 222.2%. The company is expected to issue its next earnings report on Friday, October 2nd.

On average, analysts expect that Hanmi Financial will report full year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.60 to $1.04. For the next fiscal year, analysts anticipate that the business will report earnings of $0.93 per share, with EPS estimates ranging from $0.30 to $1.24. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Hanmi Financial.

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

Several equities analysts have weighed in on HAFC shares. BidaskClub cut shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th. Zacks Investment Research downgraded Hanmi Financial from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.50.

Shares of NASDAQ:HAFC opened at $9.65 on Friday. The firm has a 50 day simple moving average of $9.29 and a 200 day simple moving average of $13.76. Hanmi Financial has a 52 week low of $7.15 and a 52 week high of $22.60. 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 company has a market cap of $295.61 million, a PE ratio of 14.41 and a beta of 1.26.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Man Group plc acquired a new position in Hanmi Financial in the 4th quarter valued at approximately $205,000. Brinker Capital Inc. acquired a new position in shares of Hanmi Financial in the first quarter valued at $113,000. Jane Street Group LLC bought a new position in Hanmi Financial in the first quarter worth $116,000. BNP Paribas Arbitrage SA lifted its position in Hanmi Financial by 80.6% in the first quarter. BNP Paribas Arbitrage SA now owns 12,140 shares of the bank’s stock worth $132,000 after purchasing an additional 5,418 shares during the period. Finally, Jefferies Group LLC bought a new stake in Hanmi Financial in the 4th quarter valued at $250,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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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