Hanmi Financial (NASDAQ:HAFC) Releases Earnings Results, Beats Expectations By $0.05 EPS

Hanmi Financial (NASDAQ:HAFC) issued its quarterly earnings results on Tuesday. The bank reported $0.58 earnings per share 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 Price Performance

Shares of NASDAQ:HAFC traded down $0.14 during trading on Tuesday, reaching $22.89. 190,819 shares of the company’s stock traded hands, compared to its average volume of 192,318. The firm has a market cap of $691.28 million, a PE ratio of 11.00 and a beta of 0.89. Hanmi Financial has a fifty-two week low of $14.45 and a fifty-two week high of $27.59. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $24.33 and a 200-day simple moving average of $21.58.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.27 per share. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 4.72%. Hanmi Financial’s dividend payout ratio is presently 48.08%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price objective (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Wedbush restated a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Finally, DA Davidson lifted their price target on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.