Hanmi Financial Co. (NASDAQ:HAFC) to Post Q2 2024 Earnings of $0.52 Per Share, Wedbush Forecasts

Hanmi Financial Co. (NASDAQ:HAFC) – Research analysts at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for Hanmi Financial in a note issued to investors on Thursday, May 2nd. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $0.52 per share for the quarter, down from their previous forecast of $0.55. 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 $2.02 per share. Wedbush also issued estimates for Hanmi Financial’s Q3 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.51 EPS and FY2025 earnings at $2.20 EPS.

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 target price (down from $18.50) on shares of Hanmi Financial in a report on Wednesday, April 24th.

Hanmi Financial Stock Down 0.6 %

NASDAQ HAFC opened at $15.80 on Monday. Hanmi Financial has a 52 week low of $13.35 and a 52 week high of $20.31. The company has a market capitalization of $478.42 million, a P/E ratio of 6.58 and a beta of 0.93. The stock’s 50-day moving average price is $15.28 and its 200-day moving average price is $16.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.43.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Friday, May 3rd. Hanmi Financial’s payout ratio is 41.67%.

Institutional Trading of Hanmi Financial

Several hedge funds and other institutional investors have recently bought and sold shares of HAFC. Assenagon Asset Management S.A. boosted its holdings in Hanmi Financial by 151.2% in the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after acquiring an additional 266,949 shares in the last quarter. Hsbc Holdings PLC grew its position in Hanmi Financial by 2,264.9% during the 4th quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after purchasing an additional 228,365 shares during the last quarter. AQR Capital Management LLC grew its position in Hanmi Financial by 59.9% during the 3rd quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock worth $6,311,000 after purchasing an additional 145,703 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Hanmi Financial by 113.5% during the 1st quarter. BNP Paribas Financial Markets now owns 82,130 shares of the bank’s stock valued at $1,308,000 after purchasing an additional 43,662 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Hanmi Financial by 10.8% in the third quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock worth $5,825,000 after buying an additional 35,104 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

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.