Hanmi Financial Co. (NASDAQ:HAFC) Forecasted to Post Q3 2024 Earnings of $0.59 Per Share

Hanmi Financial Co. (NASDAQ:HAFC) – Equities researchers at Wedbush upped their Q3 2024 earnings estimates for Hanmi Financial in a report released on Wednesday, April 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.59 per share for the quarter, up from their previous forecast of $0.58. Wedbush has a “Neutral” rating and a $17.00 price objective on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.15 per share. Wedbush also issued estimates for Hanmi Financial’s Q4 2024 earnings at $0.57 EPS.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $18.00 price objective (down from $18.50) on shares of Hanmi Financial in a research note on Wednesday.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC opened at $15.63 on Thursday. The company has a market cap of $473.28 million, a price-to-earnings ratio of 6.51 and a beta of 0.95. The company has a 50-day moving average price of $15.23 and a 200-day moving average price of $16.44. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. Hanmi Financial has a 12 month low of $13.35 and a 12 month high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.80%. The business had revenue of $59.82 million during the quarter, compared to analyst estimates of $63.43 million.

Hedge Funds Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Hanmi Financial in the fourth quarter worth about $30,000. Meeder Asset Management Inc. bought a new position in Hanmi Financial in the fourth quarter worth about $37,000. Strs Ohio bought a new position in Hanmi Financial in the third quarter worth about $30,000. Simplex Trading LLC raised its stake in Hanmi Financial by 1,406.7% in the fourth quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock worth $39,000 after buying an additional 1,899 shares in the last quarter. Finally, CWM LLC raised its stake in Hanmi Financial by 291.6% in the fourth quarter. CWM LLC now owns 2,232 shares of the bank’s stock worth $43,000 after buying an additional 1,662 shares in the last quarter. 88.66% of the stock is owned by institutional investors.

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.