Hanmi Financial Corp. (HAFC) Announces Earnings Results, Misses Expectations By $0.03 EPS
Hanmi Financial Corp. (NASDAQ:HAFC) released its earnings results on Tuesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.03. Hanmi Financial Corp. had a net margin of 27.43% and a return on equity of 11.49%.
Shares of Hanmi Financial Corp. (NASDAQ:HAFC) opened at 25.86 on Tuesday. The stock’s 50 day moving average price is $26.39 and its 200 day moving average price is $24.25. The firm has a market cap of $824.96 million, a price-to-earnings ratio of 14.45 and a beta of 1.07. Hanmi Financial Corp. has a one year low of $18.92 and a one year high of $28.09.
HAFC has been the topic of a number of research analyst reports. Raymond James Financial Inc. raised Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Thursday, August 25th. Zacks Investment Research raised Hanmi Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Friday, July 22nd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.20.
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In related news, Director Joon Hyung Lee sold 2,412 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $25.33, for a total transaction of $61,095.96. Following the sale, the director now owns 270,285 shares in the company, valued at $6,846,319.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.91% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Hanmi Financial Corp. by 144.6% in the second quarter. BlackRock Inc. now owns 7,700 shares of the company’s stock valued at $180,000 after buying an additional 4,552 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Hanmi Financial Corp. during the second quarter valued at about $214,000. Menta Capital LLC acquired a new stake in Hanmi Financial Corp. during the second quarter valued at about $221,000. BlackRock Advisors LLC raised its stake in Hanmi Financial Corp. by 5.8% in the second quarter. BlackRock Advisors LLC now owns 15,714 shares of the company’s stock valued at $369,000 after buying an additional 858 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Hanmi Financial Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 16,766 shares of the company’s stock valued at $394,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 86.20% of the company’s stock.
About Hanmi Financial Corp.
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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