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

Hanmi Financial Co. (NASDAQ:HAFC) – Stock analysts at Wedbush boosted their Q2 2024 EPS estimates for Hanmi Financial in a research report issued on Wednesday, April 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $0.55 for the quarter, up from their previous forecast 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.

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

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

Hanmi Financial Trading Up 3.2 %

Hanmi Financial stock opened at $15.63 on Friday. The firm has a 50 day simple moving average of $15.23 and a 200-day simple 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. The stock has a market capitalization of $473.28 million, a PE ratio of 6.51 and a beta of 0.95. Hanmi Financial has a 12-month low of $13.35 and a 12-month high of $20.31.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of Hanmi Financial by 151.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock valued at $7,061,000 after acquiring an additional 266,949 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Hanmi Financial by 10.9% during the 1st 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. Los Angeles Capital Management LLC increased its stake in shares of Hanmi Financial by 18.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock worth $308,000 after purchasing an additional 3,030 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after buying an additional 2,441 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in Hanmi Financial by 48.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 40,743 shares of the bank’s stock valued at $790,000 after buying an additional 13,297 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Announces Dividend

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

About Hanmi Financial

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.