Hanmi Financial Corp (NASDAQ:HAFC) – Equities researchers at DA Davidson dropped their FY2018 earnings per share estimates for Hanmi Financial in a research note issued on Monday, May 21st, according to Zacks Investment Research. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $2.15 for the year, down from their previous estimate of $2.16. DA Davidson also issued estimates for Hanmi Financial’s Q4 2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.69 EPS and Q4 2019 earnings at $0.68 EPS.
A number of other analysts have also recently commented on the stock. BidaskClub upgraded shares of Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 21st. ValuEngine upgraded shares of Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded shares of Hanmi Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 24th. Piper Jaffray Companies set a $31.00 price target on shares of Hanmi Financial and gave the company a “hold” rating in a research note on Wednesday, April 25th. Finally, Raymond James cut their price target on shares of Hanmi Financial from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, April 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $32.50.
Hanmi Financial traded down $0.10, hitting $29.70, during trading hours on Wednesday, according to MarketBeat Ratings. 135,900 shares of the company’s stock were exchanged, compared to its average volume of 187,309. Hanmi Financial has a 1-year low of $25.45 and a 1-year high of $33.10. The stock has a market capitalization of $979.77 million, a price-to-earnings ratio of 16.34, a PEG ratio of 1.80 and a beta of 0.72. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.60.
Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, April 24th. The bank reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.07). Hanmi Financial had a net margin of 22.44% and a return on equity of 10.67%. The company had revenue of $50.99 million during the quarter, compared to analyst estimates of $55.17 million. During the same quarter last year, the company earned $0.43 EPS.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 29th. Shareholders of record on Monday, May 7th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Friday, May 4th. Hanmi Financial’s dividend payout ratio is currently 53.04%.
A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in shares of Hanmi Financial by 3.3% in the first quarter. Principal Financial Group Inc. now owns 266,108 shares of the bank’s stock valued at $8,183,000 after purchasing an additional 8,547 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Hanmi Financial by 45.4% in the first quarter. Xact Kapitalforvaltning AB now owns 9,609 shares of the bank’s stock valued at $295,000 after purchasing an additional 3,000 shares during the period. Millennium Management LLC raised its position in shares of Hanmi Financial by 26.5% in the first quarter. Millennium Management LLC now owns 573,555 shares of the bank’s stock valued at $17,637,000 after purchasing an additional 120,190 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Hanmi Financial in the first quarter valued at about $208,000. Finally, Barclays PLC raised its position in shares of Hanmi Financial by 27.7% in the first quarter. Barclays PLC now owns 12,222 shares of the bank’s stock valued at $376,000 after purchasing an additional 2,653 shares during the period. Hedge funds and other institutional investors own 89.23% 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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