Zacks: Analysts Anticipate Hanmi Financial Co. (NASDAQ:HAFC) to Post $0.66 EPS

Analysts expect Hanmi Financial Co. (NASDAQ:HAFC – Get Rating) to report earnings per share of $0.66 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Hanmi Financial’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.64. Hanmi Financial reported earnings of $0.72 per share in the same quarter last year, which would indicate a negative year over year growth rate of 8.3%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Hanmi Financial will report full year earnings of $2.72 per share for the current financial year, with EPS estimates ranging from $2.62 to $2.84. For the next financial year, analysts forecast that the firm will report earnings of $2.82 per share, with EPS estimates ranging from $2.73 to $2.95. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Hanmi Financial.

Hanmi Financial (NASDAQ:HAFC – Get Rating) last released its quarterly earnings data 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 net margin of 39.39% and a return on equity of 16.52%. The firm had revenue of $59.48 million during the quarter, compared to analysts’ expectations of $57.23 million. During the same period last year, the business earned $0.55 earnings per share.

Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Hanmi Financial from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Thursday, January 27th. DA Davidson cut shares of Hanmi Financial from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Wednesday, May 18th. Jonestrading raised their price objective on shares of Hanmi Financial from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 26th. Finally, StockNews.com began coverage on shares of Hanmi Financial in a report on Thursday, March 31st. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $28.00.

Large investors have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. purchased a new stake in shares of Hanmi Financial during the 4th quarter worth $26,000. Lazard Asset Management LLC purchased a new stake in shares of Hanmi Financial during the 4th quarter worth $29,000. Captrust Financial Advisors boosted its position in shares of Hanmi Financial by 64.7% during the 1st quarter. Captrust Financial Advisors now owns 4,632 shares of the bank’s stock worth $114,000 after purchasing an additional 1,819 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position 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 purchasing an additional 6,100 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of Hanmi Financial by 8.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,584 shares of the bank’s stock worth $152,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 87.05% of the company’s stock.

Shares of HAFC stock opened at $22.33 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market cap of $680.33 million, a PE ratio of 6.67 and a beta of 1.07. The company has a 50-day moving average of $24.04 and a two-hundred day moving average of $24.48. Hanmi Financial has a 1-year low of $16.67 and a 1-year high of $28.84.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Monday, May 9th will be issued a $0.22 dividend. The ex-dividend date is Friday, May 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.94%. Hanmi Financial’s payout ratio is 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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