FY2024 EPS Estimates for Hanmi Financial Lifted by Analyst

Hanmi Financial Co. (NASDAQ:HAFC - Free Report) - Stock analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Hanmi Financial in a research note issued to investors on Thursday, October 24th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $1.96 per share for the year, up from their previous estimate of $1.90. DA Davidson has a "Neutral" rating and a $22.00 price objective on the stock. The consensus estimate for Hanmi Financial's current full-year earnings is $1.97 per share. DA Davidson also issued estimates for Hanmi Financial's FY2025 earnings at $2.18 EPS.

HAFC has been the topic of a number of other reports. Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a "market perform" rating to an "outperform" rating and upped their target price for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush restated a "neutral" rating and issued a $21.00 price target on shares of Hanmi Financial in a report on Wednesday, October 23rd. Finally, Piper Sandler upgraded Hanmi Financial from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $20.00 to $25.50 in a research note on Thursday.

Hanmi Financial Price Performance

Hanmi Financial stock traded up $0.28 during midday trading on Monday, reaching $22.22. The company's stock had a trading volume of 32,711 shares, compared to its average volume of 232,303. The stock's 50 day simple moving average is $19.41 and its 200 day simple moving average is $17.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $675.20 million, a PE ratio of 9.14 and a beta of 0.87. Hanmi Financial has a fifty-two week low of $14.11 and a fifty-two week high of $23.14.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting analysts' consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.97%. The firm had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. During the same quarter last year, the firm earned $0.62 earnings per share.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 4.50%. Hanmi Financial's dividend payout ratio (DPR) is 41.67%.

Hedge Funds Weigh In On Hanmi Financial

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Hanmi Financial by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank's stock valued at $35,903,000 after buying an additional 58,097 shares during the last quarter. AQR Capital Management LLC raised its holdings in Hanmi Financial by 32.2% during the second quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank's stock worth $17,937,000 after purchasing an additional 261,545 shares in the last quarter. American Century Companies Inc. lifted its position in Hanmi Financial by 16.5% in the second quarter. American Century Companies Inc. now owns 578,155 shares of the bank's stock worth $9,667,000 after purchasing an additional 82,087 shares during the period. Acadian Asset Management LLC lifted its position in Hanmi Financial by 71.8% in the second quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank's stock worth $8,070,000 after purchasing an additional 201,789 shares during the period. Finally, Stieven Capital Advisors L.P. boosted its stake in Hanmi Financial by 19.2% during the 2nd quarter. Stieven Capital Advisors L.P. now owns 473,553 shares of the bank's stock valued at $7,918,000 after purchasing an additional 76,198 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

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.