Hanmi Financial Co. (NASDAQ:HAFC) Expected to Post Quarterly Sales of $62.83 Million

Brokerages predict that Hanmi Financial Co. (NASDAQ:HAFC – Get Rating) will announce $62.83 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Hanmi Financial’s earnings, with the lowest sales estimate coming in at $61.80 million and the highest estimate coming in at $63.70 million. Hanmi Financial posted sales of $58.46 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Hanmi Financial will report full-year sales of $254.07 million for the current fiscal year, with estimates ranging from $248.20 million to $258.00 million. For the next year, analysts anticipate that the firm will post sales of $277.10 million, with estimates ranging from $268.40 million to $284.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Hanmi Financial.

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

Several equities research analysts recently weighed in on the company. 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. DA Davidson downgraded Hanmi Financial from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Wednesday, May 18th. Jonestrading upped their price target on Hanmi Financial from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 26th. Finally, StockNews.com downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Hanmi Financial has a consensus rating of “Buy” and a consensus price target of $28.00.

HAFC opened at $22.79 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96. Hanmi Financial has a 52-week low of $16.67 and a 52-week high of $28.84. The stock has a market capitalization of $694.34 million, a PE ratio of 6.80 and a beta of 1.07. The stock’s 50 day moving average price is $23.93 and its 200-day moving average price is $24.46.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Monday, May 9th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Friday, May 6th. Hanmi Financial’s dividend payout ratio is 26.27%.

Institutional investors and hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. purchased a new stake in Hanmi Financial in the fourth quarter worth about $26,000. Lazard Asset Management LLC purchased a new stake in Hanmi Financial in the fourth quarter worth about $29,000. Captrust Financial Advisors increased its position in Hanmi Financial by 64.7% in the first quarter. Captrust Financial Advisors now owns 4,632 shares of the bank’s stock worth $114,000 after buying an additional 1,819 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Hanmi Financial by 7,011.5% in the third 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 in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in Hanmi Financial by 8.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 7,584 shares of the bank’s stock worth $152,000 after buying an additional 565 shares in the last quarter. Institutional investors and hedge funds own 87.05% of the company’s stock.

Hanmi Financial Company Profile (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.

Featured Articles