DA Davidson Research Analysts Lower Earnings Estimates for Hanmi Financial Co. (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – DA Davidson decreased their Q3 2024 EPS estimates for shares of Hanmi Financial in a report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.47. DA Davidson currently has a “Neutral” rating and a $21.00 target price on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $1.98 per share. DA Davidson also issued estimates for Hanmi Financial’s FY2024 earnings at $1.90 EPS and FY2025 earnings at $2.07 EPS.

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday. Wedbush dropped their price objective on shares of Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Hanmi Financial Trading Up 1.6 %

NASDAQ:HAFC opened at $18.80 on Friday. Hanmi Financial has a one year low of $13.87 and a one year high of $20.92. 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 simple moving average is $18.95 and its 200 day simple moving average is $17.09. The firm has a market capitalization of $571.28 million, a P/E ratio of 7.83 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $106.72 million for the quarter, compared to analyst estimates of $59.07 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share.

Hanmi Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders 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 annualized dividend and a yield of 5.32%. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. raised its holdings in Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after buying an additional 1,207 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Hanmi Financial by 90.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after buying an additional 2,441 shares during the last quarter. EntryPoint Capital LLC raised its holdings in Hanmi Financial by 278.4% in the first quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after buying an additional 6,242 shares during the last quarter. Marshall Wace LLP purchased a new position in Hanmi Financial in the second quarter worth about $168,000. Finally, Entropy Technologies LP purchased a new position in Hanmi Financial in the first quarter worth about $171,000. 88.66% of the stock is owned by hedge funds and other 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.