Hanmi Financial (NASDAQ:HAFC) Announces Earnings Results

Hanmi Financial (NASDAQ:HAFC) announced its quarterly earnings results on Tuesday. The bank reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05, Zacks reports. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%.

Hanmi Financial Trading Down 0.6 %

HAFC traded down $0.14 during mid-day trading on Tuesday, hitting $22.89. 190,819 shares of the stock were exchanged, compared to its average volume of 192,318. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The company has a market cap of $691.28 million, a PE ratio of 11.00 and a beta of 0.89. The firm’s fifty day moving average is $24.33 and its two-hundred day moving average is $21.58. Hanmi Financial has a 1-year low of $14.45 and a 1-year high of $27.59.

Hanmi Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.72%. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s payout ratio is currently 48.08%.

Wall Street Analyst Weigh In

HAFC has been the subject of a number of research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. DA Davidson raised their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reissued a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.38.

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.