Hanmi Financial Co. (NASDAQ:HAFC) to Post Q1 2024 Earnings of $0.54 Per Share, Wedbush Forecasts

Hanmi Financial Co. (NASDAQ:HAFC) – Investment analysts at Wedbush decreased their Q1 2024 earnings estimates for Hanmi Financial in a report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.56. Wedbush has a “Neutral” rating and a $20.00 price target on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.16 per share. Wedbush also issued estimates for Hanmi Financial’s Q2 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.20 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.59 EPS and FY2025 earnings at $2.40 EPS.

Separately, Keefe, Bruyette & Woods dropped their price objective on shares of Hanmi Financial from $20.00 to $18.50 and set a “market perform” rating for the company in a research note on Wednesday, January 24th.

Hanmi Financial Stock Up 4.1 %

NASDAQ HAFC opened at $15.87 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $15.75 and a two-hundred day moving average of $16.61. The firm has a market capitalization of $480.38 million, a price-to-earnings ratio of 6.06 and a beta of 0.94. Hanmi Financial has a 52 week low of $13.35 and a 52 week high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Hanmi Financial had a net margin of 19.84% and a return on equity of 11.88%. The company had revenue of $59.82 million for the quarter, compared to analysts’ expectations of $63.43 million.

Institutional Trading of Hanmi Financial

Large investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Hanmi Financial during the fourth quarter valued at $30,000. GAMMA Investing LLC purchased a new stake in Hanmi Financial in the fourth quarter worth about $30,000. Meeder Asset Management Inc. purchased a new stake in Hanmi Financial in the fourth quarter worth about $37,000. Strs Ohio purchased a new stake in Hanmi Financial in the third quarter worth about $30,000. Finally, Lazard Asset Management LLC purchased a new stake in Hanmi Financial in the second quarter worth about $28,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Monday, February 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date was Friday, February 2nd. Hanmi Financial’s dividend payout ratio is currently 38.17%.

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.