Zacks: Brokers expect Hanmi Financial Co. (NASDAQ: HAFC) to post $0.57 a share profit

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Brokers expect Hanmi Financial Co. (NASDAQ: HAFCGet a rating) to show earnings per share of $0.57 for the current quarter, Zacks Investment Research reports. Three analysts provided earnings estimates for Hanmi Financial, with the lowest EPS estimate of $0.47 and the highest estimate of $0.64. Hanmi Financial reported earnings per share of $0.55 in the same quarter last year, suggesting a positive year-over-year growth rate of 3.6%. The company is expected to announce its next quarterly results after the market closes on Monday, January 1.

According to Zacks, analysts expect Hanmi Financial to report annual earnings of $2.52 per share for the current year, with EPS estimates ranging from $2.30 to $2.75. For next year, analysts expect the company to post earnings of $2.81 per share, with EPS estimates ranging from $2.69 to $2.88. Zacks earnings per share averages are an average average based on a survey of sell-side research firms that provide coverage for Hanmi Financial.

Financial Hanmi (NASDAQ: HAFCGet a rating) last announced its results on Tuesday, January 25. The bank reported earnings per share of $1.09 for the quarter, beating analysts’ consensus estimate of $0.60 by $0.49. The company posted revenue of $58.79 million in the quarter, versus a consensus estimate of $59.10 million. Hanmi Financial had a net margin of 38.37% and a return on equity of 16.13%. In the same quarter last year, the company earned $0.47 per share.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded Hanmi Financial shares from a “hold” rating to a “buy” rating and set a price target of $30.00 on the stock in a research report on Thursday, January 27. StockNews.com began covering Hanmi Financial shares in a research report on Thursday, March 31. They set a “buy” rating for the company. Finally, Jonestrading raised its price target on Hanmi Financial shares from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 26. Four analysts rated the stock with a buy rating. According to MarketBeat, Hanmi Financial currently has an average rating of “Buy” and a consensus target price of $29.00.

HAFC traded down $0.11 in midday trading on Tuesday, hitting $23.82. The company had a trading volume of 1,604 shares, compared to an average volume of 164,429. The company has a 50-day moving average price of $25.51 and a two-hundred-day moving average price of $23.93 . Hanmi Financial has a 12-month low of $16.67 and a 12-month high of $28.84. The company has a debt ratio of 0.55, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $724.60 million, a PE ratio of 7.41 and a beta of 1.10.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 24. Investors of record on Monday, February 7 received a dividend of $0.22 per share. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 4. This represents a dividend of $0.88 on an annualized basis and a yield of 3.69%. Hanmi Financial’s dividend payout ratio is currently 27.33%.

A number of institutional investors have recently changed their holdings in HAFC. Everence Capital Management Inc. increased its position in Hanmi Financial by 49.4% during the 1st quarter. Everence Capital Management Inc. now owns 14,750 shares of the bank worth $363,000 after buying 4,880 additional shares in the last quarter. Barclays PLC increased its stake in Hanmi Financial by 43.0% during the fourth quarter. Barclays PLC now owns 72,405 shares in the bank worth $1,714,000 after buying an additional 21,786 shares during the period. Wells Fargo & Company MN increased its position in Hanmi Financial shares by 32.2% during the fourth quarter. Wells Fargo & Company MN now owns 68,843 shares of the bank worth $1,631,000 after buying an additional 16,776 shares last quarter. Goldman Sachs Group Inc. increased its stake in Hanmi Financial by 46.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 773,013 shares of the bank valued at $18,305,000 after buying an additional 244,146 shares last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Hanmi Financial by 5.0% in the fourth quarter. Parametric Portfolio Associates LLC now owns 178,399 shares of the bank valued at $4,224,000 after buying 8,477 additional shares in the last quarter. Institutional investors hold 86.47% of the company’s shares.

About Hanmi Financial (Get a rating)

Hanmi Financial Corporation operates as a holding company for Hanmi Bank which provides corporate banking products and services in the United States. The Company offers various deposit products, including non-interest bearing checking accounts, interest bearing checking and savings accounts, negotiable withdrawal promissory accounts, money market accounts and certificates of deposit.

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Earnings history and estimates for Hanmi Financial (NASDAQ:HAFC)



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