Q1 2024 EPS Estimates for Hanmi Financial Co. (NASDAQ:HAFC) Lowered by Wedbush

Hanmi Financial Co. (NASDAQ:HAFC) – Research analysts at Wedbush decreased their Q1 2024 EPS estimates for shares of Hanmi Financial in a research report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.54 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.

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, beating 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 business had revenue of $59.82 million for the quarter, compared to analysts’ expectations of $63.43 million.

Separately, Keefe, Bruyette & Woods decreased 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 Price Performance

Shares of NASDAQ HAFC opened at $15.87 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a market cap of $480.38 million, a price-to-earnings ratio of 6.06 and a beta of 0.94. Hanmi Financial has a fifty-two week low of $13.35 and a fifty-two week high of $20.31. The firm’s 50-day simple moving average is $15.75 and its 200 day simple moving average is $16.61.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Monday, February 5th were paid a $0.25 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.00 annualized dividend and a yield of 6.30%. Hanmi Financial’s dividend payout ratio (DPR) is 38.17%.

Institutional Investors Weigh In On Hanmi Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Hanmi Financial by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,435 shares of the bank’s stock worth $186,000 after purchasing an additional 562 shares during the last quarter. Sei Investments Co. increased its stake in shares of Hanmi Financial by 3.1% during the 2nd quarter. Sei Investments Co. now owns 21,327 shares of the bank’s stock worth $462,000 after purchasing an additional 633 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Hanmi Financial by 5.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,340 shares of the bank’s stock worth $336,000 after purchasing an additional 821 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Hanmi Financial by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 89,228 shares of the bank’s stock worth $2,002,000 after purchasing an additional 856 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Hanmi Financial by 3.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 28,605 shares of the bank’s stock worth $464,000 after purchasing an additional 933 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.