$50.85 Million in Sales Expected for Hanmi Financial Corp (HAFC) This Quarter
Equities analysts expect Hanmi Financial Corp (NASDAQ:HAFC) to announce sales of $50.85 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Hanmi Financial Corp’s earnings. The highest sales estimate is $52.3 million and the lowest is $50.1 million. Hanmi Financial Corp reported sales of $49.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3%. The company is scheduled to issue its next earnings results on Tuesday, July 18th.
According to Zacks, analysts expect that Hanmi Financial Corp will report full year sales of $50.85 million for the current fiscal year, with estimates ranging from $202.2 million to $212.8 million. For the next fiscal year, analysts anticipate that the company will report sales of $230.44 million per share, with estimates ranging from $223.3 million to $240 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Hanmi Financial Corp.
Hanmi Financial Corp (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, April 18th. The bank reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $49.57 million during the quarter, compared to analyst estimates of $51.16 million. Hanmi Financial Corp had a return on equity of 10.81% and a net margin of 26.70%. During the same period in the previous year, the company posted $0.46 EPS.
A number of brokerages recently weighed in on HAFC. Zacks Investment Research cut shares of Hanmi Financial Corp from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Hanmi Financial Corp in a research report on Thursday, April 20th. FBR & Co reaffirmed an “outperform” rating and set a $34.00 price target (down from $39.00) on shares of Hanmi Financial Corp in a research report on Wednesday, April 19th. Finally, Piper Jaffray Companies decreased their price target on shares of Hanmi Financial Corp from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.20.
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In other news, Director Joon Hyung Lee sold 6,000 shares of Hanmi Financial Corp stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $29.40, for a total transaction of $176,400.00. Following the completion of the sale, the director now owns 265,285 shares in the company, valued at approximately $7,799,379. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.91% of the company’s stock.
Large investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of Hanmi Financial Corp by 3.8% in the third quarter. Rhumbline Advisers now owns 49,766 shares of the bank’s stock valued at $1,311,000 after buying an additional 1,825 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Hanmi Financial Corp by 6.9% in the third quarter. Principal Financial Group Inc. now owns 458,205 shares of the bank’s stock worth $12,068,000 after buying an additional 29,470 shares in the last quarter. Harbor Advisors LLC purchased a new position in shares of Hanmi Financial Corp during the fourth quarter worth about $524,000. Century Capital Management LLC boosted its position in shares of Hanmi Financial Corp by 68.6% in the fourth quarter. Century Capital Management LLC now owns 186,848 shares of the bank’s stock worth $6,521,000 after buying an additional 76,028 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Hanmi Financial Corp by 0.8% in the fourth quarter. Comerica Bank now owns 86,613 shares of the bank’s stock worth $3,001,000 after buying an additional 694 shares in the last quarter. Institutional investors own 86.36% of the company’s stock.
Hanmi Financial Corp (NASDAQ:HAFC) traded down 0.90% during trading on Friday, reaching $27.40. The company had a trading volume of 11,514 shares. The firm has a 50-day moving average of $28.69 and a 200-day moving average of $31.52. The stock has a market capitalization of $878.33 million, a price-to-earnings ratio of 15.93 and a beta of 0.98. Hanmi Financial Corp has a 1-year low of $21.73 and a 1-year high of $35.85.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Monday, May 8th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.75%. The ex-dividend date was Thursday, May 4th. Hanmi Financial Corp’s payout ratio is presently 43.18%.
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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