Hanmi Financial Co. Expected to Post Q3 2024 Earnings of $0.46 Per Share (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Equities research analysts at DA Davidson decreased their Q3 2024 EPS estimates for Hanmi Financial in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the bank will earn $0.46 per share for the quarter, down from their prior forecast of $0.47. DA Davidson has a “Neutral” rating and a $21.00 price objective on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $1.98 per share. DA Davidson also issued estimates for Hanmi Financial’s FY2024 earnings at $1.90 EPS and FY2025 earnings at $2.07 EPS.

HAFC has been the subject of several other research reports. Wedbush lowered their price objective on shares of Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $22.00 in a research note on Wednesday.

Hanmi Financial Stock Performance

Shares of Hanmi Financial stock opened at $18.50 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $562.16 million, a price-to-earnings ratio of 7.71 and a beta of 0.88. The business has a 50-day moving average of $18.98 and a 200 day moving average of $17.06. Hanmi Financial has a 12 month low of $13.87 and a 12 month high of $20.92.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $106.72 million during the quarter, compared to analyst estimates of $59.07 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same period last year, the business posted $0.67 earnings per share.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 5.41%. Hanmi Financial’s dividend payout ratio is currently 41.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAFC. The Manufacturers Life Insurance Company grew its stake in shares of Hanmi Financial by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after purchasing an additional 911 shares in the last quarter. EMC Capital Management increased its holdings in shares of Hanmi Financial by 8.9% in the 1st quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock valued at $187,000 after acquiring an additional 958 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after acquiring an additional 1,207 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Hanmi Financial by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock worth $280,000 after purchasing an additional 1,730 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Hanmi Financial by 3.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 54,423 shares of the bank’s stock valued at $866,000 after purchasing an additional 2,004 shares in the last quarter. Institutional investors and hedge funds own 88.66% 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.