Hanmi Financial (NASDAQ:HAFC) Releases Earnings Results, Misses Estimates By $0.01 EPS

Hanmi Financial (NASDAQ:HAFC) issued its quarterly earnings results on Tuesday. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01), FiscalAI reports. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. The firm had revenue of $76.60 million during the quarter, compared to analyst estimates of $75.13 million.

Hanmi Financial Stock Up 0.7%

NASDAQ:HAFC traded up $0.24 during trading hours on Tuesday, reaching $32.41. The company had a trading volume of 243,158 shares, compared to its average volume of 259,306. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market cap of $960.96 million, a price-to-earnings ratio of 10.91 and a beta of 0.75. The business’s 50-day simple moving average is $31.52 and its two-hundred day simple moving average is $29.78. Hanmi Financial has a twelve month low of $24.54 and a twelve month high of $33.50.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HAFC shares. DA Davidson increased their price objective on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.00.

Hanmi Financial Company Profile

Hanmi Financial Corporation is the holding company for Hanmi Bank, a commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American and other small-business communities and has developed into a full-service regional bank serving individuals, businesses, and professional organizations.

Hanmi Bank offers commercial and consumer deposit accounts, business and personal lending, commercial real estate financing, small business loans, construction loans, and trade finance services.