Hanmi Financial Co. (NASDAQ:HAFC) Forecasted to Post Q3 2024 Earnings of $0.59 Per Share

Hanmi Financial Co. (NASDAQ:HAFC) – Equities researchers at Wedbush upped their Q3 2024 earnings estimates for shares of Hanmi Financial in a research note issued on Wednesday, April 24th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $0.59 per share for the quarter, up from their previous estimate of $0.58. Wedbush has a “Neutral” rating and a $17.00 price objective on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.15 per share. Wedbush also issued estimates for Hanmi Financial’s Q4 2024 earnings at $0.57 EPS.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.80%.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $18.00 target price (down from $18.50) on shares of Hanmi Financial in a report on Wednesday.

Hanmi Financial Price Performance

Shares of HAFC opened at $15.63 on Thursday. The company has a market capitalization of $473.28 million, a P/E ratio of 6.51 and a beta of 0.95. The business’s 50-day moving average is $15.23 and its two-hundred day moving average is $16.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.01. Hanmi Financial has a fifty-two week low of $13.35 and a fifty-two week high of $20.31.

Institutional Trading of Hanmi Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Hanmi Financial during the third quarter worth approximately $30,000. GAMMA Investing LLC acquired a new position in shares of Hanmi Financial during the 4th quarter worth approximately $30,000. Meeder Asset Management Inc. purchased a new position in shares of Hanmi Financial during the 4th quarter valued at approximately $37,000. Simplex Trading LLC grew 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 valued at $39,000 after acquiring an additional 1,899 shares during the period. Finally, CWM LLC increased its holdings in Hanmi Financial by 291.6% in the 4th quarter. CWM LLC now owns 2,232 shares of the bank’s stock worth $43,000 after acquiring an additional 1,662 shares in the last quarter. 88.66% of the stock is owned by hedge funds and other institutional investors.

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.