Hanmi Financial (NASDAQ:HAFC) Posts Earnings Results, Meets Estimates

Hanmi Financial (NASDAQ:HAFC) announced its earnings results on Tuesday. The bank reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48, Zacks reports. The company had revenue of $106.72 million during the quarter, compared to the consensus estimate of $59.07 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same quarter in the prior year, the company earned $0.67 earnings per share.

Hanmi Financial Stock Up 2.2 %

HAFC traded up $0.44 during trading on Friday, reaching $20.54. The stock had a trading volume of 90,973 shares, compared to its average volume of 246,412. The stock’s 50 day moving average is $16.52 and its two-hundred day moving average is $16.12. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $624.21 million, a price-to-earnings ratio of 8.38 and a beta of 0.90. Hanmi Financial has a one year low of $13.87 and a one year high of $20.90.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.87%. Hanmi Financial’s dividend payout ratio (DPR) is 41.67%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HAFC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 target price (down previously from $18.50) on shares of Hanmi Financial in a report on Wednesday, April 24th. DA Davidson upped their target price on Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wedbush increased their price objective on Hanmi Financial from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday.

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.