Wedbush Brokers Lift Earnings Estimates for Hanmi Financial Co. (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Wedbush raised their Q2 2024 earnings estimates for Hanmi Financial in a report released on Wednesday, April 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.55 per share for the quarter, up from their previous estimate of $0.50. Wedbush currently has a “Neutral” rating and a $17.00 target price 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 Q1 2025 earnings at $0.55 EPS.

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

Hanmi Financial Price Performance

HAFC stock opened at $15.63 on Friday. Hanmi Financial has a 1 year low of $13.35 and a 1 year high of $20.31. The company has a market cap of $473.28 million, a P/E ratio of 6.51 and a beta of 0.95. The firm has a 50-day moving average of $15.23 and a 200 day moving average of $16.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 1.00.

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

Institutional Investors Weigh In On Hanmi Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of HAFC. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Hanmi Financial by 5.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,340 shares of the bank’s stock valued at $336,000 after buying an additional 821 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Hanmi Financial by 3.4% during the third quarter. Teacher Retirement System of Texas now owns 28,605 shares of the bank’s stock valued at $464,000 after buying an additional 933 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hanmi Financial by 13.4% during the fourth quarter. Victory Capital Management Inc. now owns 11,833 shares of the bank’s stock valued at $230,000 after buying an additional 1,399 shares during the last quarter. Swiss National Bank lifted its position in Hanmi Financial by 2.1% during the third quarter. Swiss National Bank now owns 67,200 shares of the bank’s stock valued at $1,091,000 after purchasing an additional 1,400 shares during the period. Finally, GAMMA Investing LLC bought a new position in Hanmi Financial during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, May 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Friday, May 3rd. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.67%.

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.