Wedbush Comments on Hanmi Financial Co.’s Q2 2024 Earnings (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Investment analysts at Wedbush raised their Q2 2024 earnings per share estimates for shares of Hanmi Financial in a report issued on Wednesday, April 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $0.55 for the quarter, up from their previous estimate of $0.50. Wedbush has a “Neutral” rating and a $17.00 price objective on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.10 per share. Wedbush also issued estimates for Hanmi Financial’s Q1 2025 earnings at $0.55 EPS.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Hanmi Financial had a return on equity of 10.70% and a net margin of 17.63%. The business had revenue of $59.82 million for the quarter, compared to analysts’ expectations of $63.43 million.

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 target price (down from $18.50) on shares of Hanmi Financial in a research note on Wednesday.

Hanmi Financial Price Performance

Shares of NASDAQ:HAFC opened at $15.82 on Friday. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $15.24 and its two-hundred day simple moving average is $16.43. Hanmi Financial has a 1-year low of $13.35 and a 1-year high of $20.31. The stock has a market cap of $479.03 million, a PE ratio of 6.59 and a beta of 0.95.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, May 3rd. Hanmi Financial’s payout ratio is 41.67%.

Institutional Investors Weigh In On Hanmi Financial

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Hanmi Financial by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after purchasing an additional 4,756 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Hanmi Financial by 151.2% in the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after purchasing an additional 266,949 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Hanmi Financial by 59.9% during the 3rd quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock valued at $6,311,000 after buying an additional 145,703 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Hanmi Financial by 10.8% during the 3rd quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock valued at $5,825,000 after buying an additional 35,104 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Hanmi Financial by 2,264.9% in the 4th quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock valued at $4,671,000 after buying an additional 228,365 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

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.