Hanmi Financial Co. (NASDAQ:HAFC) Expected to Post FY2024 Earnings of $1.94 Per Share

Hanmi Financial Co. (NASDAQ:HAFC) – Research analysts at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for Hanmi Financial in a note issued to investors on Thursday, April 25th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $1.94 per share for the year, down from their previous forecast of $2.27. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.03 per share.

HAFC has been the subject of several other reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 target price (down from $18.50) on shares of Hanmi Financial in a research report on Wednesday, April 24th. Wedbush reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Hanmi Financial in a report on Wednesday, April 24th.

Hanmi Financial Stock Performance

Shares of HAFC opened at $15.30 on Monday. The firm has a market capitalization of $463.28 million, a P/E ratio of 6.38 and a beta of 0.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day moving average of $15.24 and a 200 day moving average of $16.43. Hanmi Financial has a one year low of $13.35 and a one year high of $20.31.

Institutional Investors Weigh In On Hanmi Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Hanmi Financial in the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Hanmi Financial during the fourth quarter valued at about $37,000. Strs Ohio purchased a new position in shares of Hanmi Financial in the 3rd quarter valued at approximately $30,000. Simplex Trading LLC boosted its stake in Hanmi Financial by 1,406.7% in the 4th quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock worth $39,000 after purchasing an additional 1,899 shares in the last quarter. Finally, CWM LLC grew its position in Hanmi Financial by 291.6% during the 4th quarter. CWM LLC now owns 2,232 shares of the bank’s stock worth $43,000 after purchasing an additional 1,662 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, May 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, May 3rd. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.67%.

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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.