Brokerages expect Hanmi Financial Corp (NASDAQ:HAFC) to report $52.15 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Hanmi Financial’s earnings, with the lowest sales estimate coming in at $51.90 million and the highest estimate coming in at $52.60 million. Hanmi Financial reported sales of $51.06 million in the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The business is expected to report its next earnings report on Tuesday, July 23rd.
On average, analysts expect that Hanmi Financial will report full-year sales of $210.30 million for the current year, with estimates ranging from $208.30 million to $213.20 million. For the next fiscal year, analysts forecast that the firm will report sales of $221.98 million, with estimates ranging from $216.20 million to $227.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Hanmi Financial.
Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The firm had revenue of $51.14 million for the quarter, compared to analyst estimates of $51.20 million. Hanmi Financial had a net margin of 21.65% and a return on equity of 10.71%.
Shares of Hanmi Financial stock traded down $0.39 during trading on Friday, hitting $22.05. 148,710 shares of the stock were exchanged, compared to its average volume of 185,696. The firm has a market capitalization of $685.67 million, a PE ratio of 11.61, a P/E/G ratio of 1.34 and a beta of 1.02. Hanmi Financial has a 1-year low of $17.56 and a 1-year high of $31.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.97 and a quick ratio of 0.97.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 6th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 4.35%. Hanmi Financial’s payout ratio is 50.53%.
Hanmi Financial announced that its board has approved a stock repurchase plan on Thursday, January 24th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Joseph K. Rho sold 10,496 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.32, for a total value of $234,270.72. Following the completion of the sale, the director now directly owns 376,039 shares of the company’s stock, valued at $8,393,190.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph K. Rho sold 64,499 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $22.32, for a total value of $1,439,617.68. Following the completion of the sale, the director now directly owns 363,538 shares of the company’s stock, valued at $8,114,168.16. The disclosure for this sale can be found here. Insiders sold a total of 112,999 shares of company stock valued at $2,535,296 over the last three months. Insiders own 2.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in Hanmi Financial by 21.4% in the 4th quarter. FMR LLC now owns 2,405,682 shares of the bank’s stock worth $47,391,000 after buying an additional 424,788 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Hanmi Financial by 32.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 817,999 shares of the bank’s stock worth $16,115,000 after purchasing an additional 201,903 shares during the period. Dimensional Fund Advisors LP lifted its position in Hanmi Financial by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,520,879 shares of the bank’s stock worth $49,661,000 after purchasing an additional 189,382 shares during the period. LSV Asset Management lifted its position in Hanmi Financial by 11.6% in the fourth quarter. LSV Asset Management now owns 1,513,031 shares of the bank’s stock worth $29,806,000 after purchasing an additional 157,316 shares during the period. Finally, Royce & Associates LP lifted its position in Hanmi Financial by 172.0% in the first quarter. Royce & Associates LP now owns 139,799 shares of the bank’s stock worth $2,974,000 after purchasing an additional 88,393 shares during the period. 90.55% 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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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