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

Hanmi Financial (NASDAQ:HAFC) announced its quarterly earnings data on Tuesday. The bank reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49, Yahoo Finance reports. The firm had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. During the same period in the previous year, the firm posted $0.62 earnings per share.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC traded up $1.19 during trading hours on Wednesday, hitting $21.32. 78,727 shares of the stock were exchanged, compared to its average volume of 230,278. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00. Hanmi Financial has a one year low of $13.87 and a one year high of $21.64. The company’s 50 day moving average is $19.20 and its 200 day moving average is $17.49. The firm has a market capitalization of $647.85 million, a P/E ratio of 8.85 and a beta of 0.87.

Hanmi Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Monday, August 5th. Hanmi Financial’s dividend payout ratio is 41.67%.

Wall Street Analyst Weigh In

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

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.