Wedbush Comments on Hanmi Financial Co.’s Q2 2024 Earnings (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Investment analysts at Wedbush boosted their Q2 2024 earnings per share estimates for shares of Hanmi Financial in a note issued to investors on Wednesday, April 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $0.55 per share for the quarter, up from their previous forecast of $0.50. 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 $2.10 per share. Wedbush also issued estimates for Hanmi Financial’s Q1 2025 earnings at $0.55 EPS.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $59.82 million for the quarter, compared to the consensus estimate of $63.43 million. Hanmi Financial had a return on equity of 10.70% and a net margin of 17.63%.

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

Hanmi Financial Stock Performance

Shares of Hanmi Financial stock opened at $15.82 on Friday. The stock’s fifty day moving average is $15.24 and its two-hundred day moving average is $16.43. The company has a market capitalization of $479.03 million, a PE ratio of 6.59 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. Hanmi Financial has a 52 week low of $13.35 and a 52 week high of $20.31.

Hanmi Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Friday, May 3rd. Hanmi Financial’s payout ratio is 41.67%.

Hedge Funds Weigh In On Hanmi Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Hanmi Financial by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after buying an additional 4,756 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Hanmi Financial by 151.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after buying an additional 266,949 shares in the last quarter. AQR Capital Management LLC boosted its position in Hanmi Financial by 59.9% during the third quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock valued at $6,311,000 after purchasing an additional 145,703 shares in the last quarter. American Century Companies Inc. boosted its position in Hanmi Financial by 10.8% during the third quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock valued at $5,825,000 after purchasing an additional 35,104 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Hanmi Financial by 2,264.9% during the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock valued at $4,671,000 after purchasing an additional 228,365 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

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.