Hanmi Financial (NASDAQ:HAFC) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Hanmi Financial (NASDAQ:HAFC) released its quarterly earnings results on Tuesday. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05, Zacks reports. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%.

Hanmi Financial Stock Performance

Shares of HAFC stock opened at $24.54 on Thursday. The stock’s 50-day moving average is $24.22 and its two-hundred day moving average is $21.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. Hanmi Financial has a 1 year low of $14.45 and a 1 year high of $27.59. The firm has a market cap of $741.11 million, a price-to-earnings ratio of 11.80 and a beta of 0.89.

Hanmi Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Monday, February 10th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 4.40%. Hanmi Financial’s payout ratio is 48.08%.

Wall Street Analysts Forecast Growth

HAFC has been the subject of a number of recent analyst reports. Wedbush reiterated a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. DA Davidson upped their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Finally, Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.38.

Hanmi Financial Company Profile

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.