Hanmi Financial (NASDAQ:HAFC) Issues Earnings Results, Beats Expectations By $0.05 EPS

Hanmi Financial (NASDAQ:HAFC - Get Free Report) issued its quarterly earnings data on Tuesday. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.05, Zacks reports. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%.

Hanmi Financial Stock Performance

HAFC stock traded down $0.14 on Tuesday, hitting $22.89. The company had a trading volume of 190,819 shares, compared to its average volume of 192,318. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. Hanmi Financial has a 12-month low of $14.45 and a 12-month high of $27.59. The stock has a market cap of $691.28 million, a price-to-earnings ratio of 11.00 and a beta of 0.89. The stock's 50-day simple moving average is $24.33 and its 200 day simple moving average is $21.58.

Hanmi Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.72%. This is a boost from Hanmi Financial's previous quarterly dividend of $0.25. Hanmi Financial's payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HAFC shares. Wedbush reaffirmed a "neutral" rating and issued a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Piper Sandler upgraded shares of Hanmi Financial from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Janney Montgomery Scott upgraded Hanmi Financial from a "neutral" rating to a "buy" rating in a research note on Friday, November 15th. Finally, DA Davidson upped their price target on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $24.38.

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.

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