Wedbush Equities Analysts Increase Earnings Estimates for Hanmi Financial Co. (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Analysts at Wedbush lifted their Q2 2024 earnings per share estimates for Hanmi Financial in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.55 per share for the quarter, up from their prior estimate of $0.50. Wedbush currently has a “Neutral” rating and a $17.00 target price 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.

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

Hanmi Financial Stock Performance

HAFC stock opened at $15.82 on Friday. Hanmi Financial has a twelve month low of $13.35 and a twelve month high of $20.31. The firm has a market cap of $479.03 million, a price-to-earnings ratio of 6.59 and a beta of 0.95. The business’s fifty day simple moving average is $15.24 and its two-hundred day simple moving average is $16.44. 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 Announces Dividend

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

Institutional Trading of Hanmi Financial

Several institutional investors and hedge funds have recently made changes to their positions in HAFC. Assenagon Asset Management S.A. increased its holdings in Hanmi Financial by 151.2% during the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock valued at $7,061,000 after buying an additional 266,949 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Hanmi Financial by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after acquiring an additional 1,730 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Hanmi Financial by 18.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock valued at $308,000 after acquiring an additional 3,030 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after acquiring an additional 2,441 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its stake in shares of Hanmi Financial by 48.4% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 40,743 shares of the bank’s stock worth $790,000 after purchasing an additional 13,297 shares during the last quarter. 88.66% of the stock is currently owned by 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.