Analysts Issue Forecasts for Hanmi Financial Co.’s FY2022 Earnings (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC – Get Rating) – Research analysts at Wedbush raised their FY2022 earnings per share estimates for shares of Hanmi Financial in a research report issued on Wednesday, May 18th. Wedbush analyst D. Chiaverini now expects that the bank will earn $2.70 per share for the year, up from their previous estimate of $2.53. Wedbush also issued estimates for Hanmi Financial’s Q4 2022 earnings at $0.70 EPS, Q1 2023 earnings at $0.64 EPS, Q3 2023 earnings at $0.74 EPS, Q4 2023 earnings at $0.74 EPS and FY2023 earnings at $2.85 EPS.

Hanmi Financial (NASDAQ:HAFC – Get Rating) last released its earnings results on Tuesday, April 26th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. Hanmi Financial had a return on equity of 16.52% and a net margin of 39.39%. The company had revenue of $59.48 million for the quarter, compared to analysts’ expectations of $57.23 million. During the same quarter in the previous year, the firm posted $0.55 EPS.

HAFC has been the topic of several other research reports. Jonestrading boosted their price target on Hanmi Financial from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 26th. DA Davidson lowered Hanmi Financial from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Wednesday. Zacks Investment Research raised Hanmi Financial from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, January 27th. Finally, StockNews.com assumed coverage on Hanmi Financial in a research note on Thursday, March 31st. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Hanmi Financial has a consensus rating of “Buy” and a consensus target price of $28.00.

NASDAQ HAFC opened at $21.71 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $24.16 and its two-hundred day moving average is $24.49. Hanmi Financial has a 12-month low of $16.67 and a 12-month high of $28.84. The stock has a market capitalization of $661.50 million, a price-to-earnings ratio of 6.48 and a beta of 1.07.

Several institutional investors have recently modified their holdings of HAFC. FMR LLC lifted its stake in shares of Hanmi Financial by 6.5% during the 1st quarter. FMR LLC now owns 2,561,110 shares of the bank’s stock worth $54,475,000 after purchasing an additional 155,428 shares during the period. Morgan Stanley increased its holdings in shares of Hanmi Financial by 99.7% during the 2nd quarter. Morgan Stanley now owns 165,048 shares of the bank’s stock worth $3,146,000 after buying an additional 82,414 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Hanmi Financial by 1.5% during the 3rd quarter. Raymond James & Associates now owns 38,391 shares of the bank’s stock worth $770,000 after buying an additional 549 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Hanmi Financial by 7,011.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,187 shares of the bank’s stock worth $124,000 after buying an additional 6,100 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its holdings in Hanmi Financial by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 22,788 shares of the bank’s stock valued at $457,000 after purchasing an additional 2,283 shares in the last quarter. 87.05% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Monday, May 9th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Friday, May 6th. Hanmi Financial’s payout ratio is currently 26.27%.

About Hanmi Financial (Get Rating)

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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