Wedbush Weighs in on Hanmi Financial Co.’s Q1 2024 Earnings (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Research analysts at Wedbush cut their Q1 2024 earnings estimates for shares of Hanmi Financial in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.54 per share for the quarter, down from their prior estimate of $0.56. Wedbush has a “Neutral” rating and a $20.00 price objective on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.16 per share. Wedbush also issued estimates for Hanmi Financial’s Q2 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.20 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.59 EPS and FY2025 earnings at $2.40 EPS.

Separately, Keefe, Bruyette & Woods cut their price objective on shares of Hanmi Financial from $20.00 to $18.50 and set a “market perform” rating for the company in a report on Wednesday, January 24th.

Hanmi Financial Stock Up 0.3 %

Hanmi Financial stock opened at $15.92 on Thursday. Hanmi Financial has a twelve month low of $13.35 and a twelve month high of $20.31. The firm has a 50 day moving average price of $15.71 and a 200-day moving average price of $16.60. The company has a market capitalization of $481.90 million, a P/E ratio of 6.08 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Hanmi Financial had a net margin of 19.84% and a return on equity of 11.88%. The firm had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million.

Institutional Trading of Hanmi Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its stake in Hanmi Financial by 107.1% during the third quarter. Assenagon Asset Management S.A. now owns 291,658 shares of the bank’s stock worth $4,734,000 after purchasing an additional 150,861 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Hanmi Financial in the second quarter worth approximately $155,000. Alps Advisors Inc. grew its position in Hanmi Financial by 35.7% during the third quarter. Alps Advisors Inc. now owns 20,088 shares of the bank’s stock valued at $326,000 after acquiring an additional 5,282 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Hanmi Financial by 148.3% during the third quarter. GSA Capital Partners LLP now owns 53,050 shares of the bank’s stock worth $861,000 after acquiring an additional 31,682 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Hanmi Financial by 1.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 208,574 shares of the bank’s stock worth $3,385,000 after acquiring an additional 3,494 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Monday, February 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend was Friday, February 2nd. Hanmi Financial’s dividend payout ratio is presently 38.17%.

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.