Hanmi Financial (NASDAQ:HAFC) Posts Earnings Results, Hits Expectations

Hanmi Financial (NASDAQ:HAFC) released its quarterly earnings results on Tuesday. The bank reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49, Yahoo Finance reports. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. During the same quarter last year, the company earned $0.62 earnings per share.

Hanmi Financial Stock Performance

Shares of HAFC traded up $1.10 during midday trading on Wednesday, hitting $21.23. 38,303 shares of the stock traded hands, compared to its average volume of 230,043. Hanmi Financial has a 1-year low of $13.87 and a 1-year high of $21.39. The firm has a market capitalization of $645.12 million, a PE ratio of 8.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $19.20 and its two-hundred day moving average price is $17.49.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Monday, August 5th. Hanmi Financial’s dividend payout ratio (DPR) is 41.67%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HAFC shares. DA Davidson lifted their price objective on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Wedbush decreased their price objective on shares of Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th.

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.