Hanmi Financial (NASDAQ:HAFC) Announces Earnings Results, Hits Expectations

Hanmi Financial (NASDAQ:HAFC - Get Free Report) announced its quarterly earnings data on Tuesday. The bank reported $0.49 EPS for the quarter, hitting analysts' consensus estimates of $0.49, Yahoo Finance reports. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. The company 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 company earned $0.62 EPS.

Hanmi Financial Price Performance

Shares of HAFC traded up $1.43 during mid-day trading on Wednesday, reaching $21.56. The company had a trading volume of 588,108 shares, compared to its average volume of 232,855. Hanmi Financial has a twelve month low of $13.87 and a twelve month high of $21.64. 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 company's 50-day moving average is $19.20 and its 200-day moving average is $17.49. The company has a market capitalization of $655.14 million, a P/E ratio of 8.98 and a beta of 0.87.

Hanmi Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.64%. Hanmi Financial's payout ratio is presently 41.67%.

Wall Street Analysts Forecast Growth

HAFC has been the subject of a number of research reports. Wedbush reiterated a "neutral" rating and issued a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday. DA Davidson raised their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded Hanmi Financial from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd.

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.