Wedbush Weighs in on Hanmi Financial Co.’s Q2 2024 Earnings (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Equities researchers at Wedbush dropped their Q2 2024 earnings 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 per share of $0.52 for the quarter, down from their prior estimate of $0.55. 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 $2.02 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 reiterated a “market perform” rating and issued a $18.00 price target (down previously from $18.50) on shares of Hanmi Financial in a research report on Wednesday, April 24th.

Hanmi Financial Price Performance

Shares of NASDAQ:HAFC opened at $15.98 on Monday. Hanmi Financial has a 12 month low of $13.64 and a 12 month high of $20.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $483.87 million, a P/E ratio of 6.66 and a beta of 0.93. The company’s fifty day moving average price is $15.31 and its 200 day moving average price is $16.44.

Institutional Investors Weigh In On Hanmi Financial

Several institutional investors have recently made changes to their positions in HAFC. Mirae Asset Global Investments Co. Ltd. increased its holdings in Hanmi Financial by 5.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,340 shares of the bank’s stock valued at $336,000 after acquiring an additional 821 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Hanmi Financial by 3.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 28,605 shares of the bank’s stock worth $464,000 after purchasing an additional 933 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Hanmi Financial by 13.4% during the 4th quarter. Victory Capital Management Inc. now owns 11,833 shares of the bank’s stock worth $230,000 after purchasing an additional 1,399 shares during the last quarter. Swiss National Bank lifted its stake in Hanmi Financial by 2.1% in the 3rd quarter. Swiss National Bank now owns 67,200 shares of the bank’s stock valued at $1,091,000 after buying an additional 1,400 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Hanmi Financial during the 4th quarter valued at $30,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, May 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date is Friday, May 3rd. Hanmi Financial’s dividend payout ratio is presently 41.67%.

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.