Hanmi Financial Corp. (HAFC) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Hanmi Financial Corp. (NASDAQ:HAFC) released its quarterly earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.03. Hanmi Financial Corp. had a return on equity of 11.49% and a net margin of 27.43%.
Shares of Hanmi Financial Corp. (NASDAQ:HAFC) opened at 25.86 on Tuesday. Hanmi Financial Corp. has a 52-week low of $18.92 and a 52-week high of $28.09. The stock has a 50 day moving average of $26.39 and a 200 day moving average of $24.25. The company has a market cap of $824.96 million, a price-to-earnings ratio of 14.45 and a beta of 1.07.
Several research analysts recently weighed in on the stock. Raymond James Financial Inc. upgraded shares of Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Thursday, August 25th. Zacks Investment Research upgraded shares of Hanmi Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Friday, July 22nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $27.20.
In related news, Director Joon Hyung Lee sold 2,412 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $25.33, for a total value of $61,095.96. Following the completion of the transaction, the director now directly owns 270,285 shares in the company, valued at approximately $6,846,319.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.91% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in HAFC. BlackRock Inc. raised its stake in Hanmi Financial Corp. by 144.6% in the second quarter. BlackRock Inc. now owns 7,700 shares of the company’s stock worth $180,000 after buying an additional 4,552 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Hanmi Financial Corp. during the second quarter worth $214,000. Menta Capital LLC purchased a new stake in Hanmi Financial Corp. during the second quarter worth $221,000. BlackRock Advisors LLC raised its stake in Hanmi Financial Corp. by 5.8% in the second quarter. BlackRock Advisors LLC now owns 15,714 shares of the company’s stock worth $369,000 after buying an additional 858 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Hanmi Financial Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 16,766 shares of the company’s stock worth $394,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 86.20% of the company’s stock.
Hanmi Financial Corp. Company Profile
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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