Hanmi Financial Corp (NASDAQ:HAFC) – Equities research analysts at Piper Jaffray Companies boosted their Q1 2019 EPS estimates for Hanmi Financial in a report released on Wednesday, January 16th, according to Zacks Investment Research. Piper Jaffray Companies analyst M. Clark now anticipates that the bank will earn $0.46 per share for the quarter, up from their previous forecast of $0.45. Piper Jaffray Companies also issued estimates for Hanmi Financial’s Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $2.00 EPS, Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.54 EPS, Q4 2020 earnings at $0.56 EPS and FY2020 earnings at $2.10 EPS.
Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, January 15th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.05). The company had revenue of $51.95 million during the quarter, compared to analysts’ expectations of $51.95 million. Hanmi Financial had a net margin of 22.35% and a return on equity of 10.74%. During the same period last year, the firm earned $0.48 earnings per share.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Raymond James cut shares of Hanmi Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. TheStreet cut shares of Hanmi Financial from a “b-” rating to a “c+” rating in a research report on Thursday, October 18th. Zacks Investment Research raised shares of Hanmi Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 28th. Finally, ValuEngine raised shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.33.
Hanmi Financial stock traded down $0.40 during trading hours on Friday, hitting $22.02. The company had a trading volume of 82,439 shares, compared to its average volume of 257,730. The stock has a market cap of $712.52 million, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99. Hanmi Financial has a 1 year low of $17.56 and a 1 year high of $32.35.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Wednesday, January 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 4.36%. Hanmi Financial’s dividend payout ratio (DPR) is presently 50.53%.
Hanmi Financial declared that its board has approved a stock repurchase program on Thursday, January 24th that permits the company to buyback 1,500,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC raised its stake in shares of Hanmi Financial by 118.3% during the 2nd quarter. Voya Investment Management LLC now owns 72,667 shares of the bank’s stock worth $2,060,000 after acquiring an additional 39,380 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Hanmi Financial by 9.1% during the 3rd quarter. Legal & General Group Plc now owns 69,786 shares of the bank’s stock worth $1,740,000 after acquiring an additional 5,834 shares in the last quarter. WBI Investments Inc. bought a new position in shares of Hanmi Financial during the 3rd quarter worth approximately $277,000. Systematic Financial Management LP raised its stake in shares of Hanmi Financial by 12.5% during the 3rd quarter. Systematic Financial Management LP now owns 504,462 shares of the bank’s stock worth $12,561,000 after acquiring an additional 55,984 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Hanmi Financial by 32.3% during the 3rd quarter. Bank of Montreal Can now owns 133,067 shares of the bank’s stock worth $3,313,000 after acquiring an additional 32,494 shares in the last quarter. Hedge funds and other institutional investors own 89.57% of the company’s stock.
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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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