FY2024 EPS Forecast for Hanmi Financial Boosted by Analyst

Hanmi Financial Co. (NASDAQ:HAFC) – Investment analysts at DA Davidson boosted their FY2024 earnings estimates for Hanmi Financial in a report issued on Thursday, October 24th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $1.96 per share for the year, up from their previous forecast of $1.90. DA Davidson currently has a “Neutral” rating and a $22.00 price target 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.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Hanmi Financial had a return on equity of 8.97% and a net margin of 14.80%. The company had revenue of $108.86 million during the quarter, compared to analysts’ expectations of $59.23 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share.

Several other equities research analysts have also recently weighed in on HAFC. Wedbush reiterated a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd.

Hanmi Financial Stock Up 0.0 %

Hanmi Financial stock opened at $22.93 on Monday. The firm has a market cap of $696.77 million, a price-to-earnings ratio of 9.55 and a beta of 0.87. Hanmi Financial has a 52-week low of $14.11 and a 52-week high of $23.14. 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 50 day moving average price of $19.49 and a two-hundred day moving average price of $17.70.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.36%. Hanmi Financial’s payout ratio is presently 41.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in Hanmi Financial by 32.2% in the second quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock worth $17,937,000 after acquiring an additional 261,545 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Hanmi Financial by 71.8% in the 2nd 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 in the last quarter. Bank of Montreal Can acquired a new stake in Hanmi Financial in the 2nd quarter valued at $2,979,000. Assenagon Asset Management S.A. increased its stake in Hanmi Financial by 66.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock valued at $7,352,000 after purchasing an additional 157,792 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Hanmi Financial by 16.5% during the second quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock worth $9,667,000 after buying an additional 82,087 shares during the last quarter. 88.66% of the stock is 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.