Wedbush Brokers Cut Earnings Estimates for Hanmi Financial Co. (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFCGet Rating) – Equities researchers at Wedbush reduced their Q1 2023 EPS estimates for shares of Hanmi Financial in a research report issued on Wednesday, July 27th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $0.68 for the quarter, down from their prior forecast of $0.69. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.77 per share. Wedbush also issued estimates for Hanmi Financial’s Q2 2023 earnings at $0.72 EPS, Q3 2023 earnings at $0.75 EPS, Q4 2023 earnings at $0.75 EPS and FY2023 earnings at $2.90 EPS.

HAFC has been the topic of several other reports. DA Davidson boosted their price objective on Hanmi Financial to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th.

Hanmi Financial Stock Up 1.2 %

Shares of NASDAQ:HAFC opened at $25.27 on Monday. The company has a market cap of $769.90 million, a price-to-earnings ratio of 7.54 and a beta of 1.03. Hanmi Financial has a 12 month low of $17.66 and a 12 month high of $28.84. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $22.95 and a 200 day moving average price of $24.26.

Institutional Trading of Hanmi Financial

Large investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. purchased a new stake in Hanmi Financial in the 4th quarter valued at about $26,000. Lazard Asset Management LLC bought a new position in Hanmi Financial in the fourth quarter worth approximately $29,000. Captrust Financial Advisors increased its holdings in 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 during the period. Cambria Investment Management L.P. bought a new stake in Hanmi Financial during the 4th quarter valued at $200,000. Finally, AXS Investments LLC purchased a new stake in shares of Hanmi Financial in the 4th quarter worth $205,000. 87.05% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Monday, August 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.96%. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, August 5th. Hanmi Financial’s dividend payout ratio (DPR) 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.

Further Reading

Earnings History and Estimates for Hanmi Financial (NASDAQ:HAFC)

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