Hanmi Financial Co. to Post Q3 2024 Earnings of $0.59 Per Share, Wedbush Forecasts (NASDAQ:HAFC)

Hanmi Financial Co. (NASDAQ:HAFC) – Research analysts at Wedbush lifted their Q3 2024 earnings estimates for shares of Hanmi Financial in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.59 per share for the quarter, up from their previous forecast of $0.58. Wedbush currently has a “Neutral” rating and a $17.00 target price on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.15 per share. Wedbush also issued estimates for Hanmi Financial’s Q4 2024 earnings at $0.57 EPS.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.80%. The business had revenue of $59.82 million for the quarter, compared to analyst estimates of $63.43 million.

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 target price (down from $18.50) on shares of Hanmi Financial in a research note on Wednesday.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $15.14 on Thursday. Hanmi Financial has a 1 year low of $13.35 and a 1 year high of $20.31. The firm’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $16.44. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $458.44 million, a PE ratio of 6.31 and a beta of 0.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HAFC. Charles Schwab Investment Management Inc. grew its position in Hanmi Financial by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after purchasing an additional 4,756 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Hanmi Financial by 151.2% during the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after buying an additional 266,949 shares in the last quarter. AQR Capital Management LLC increased its stake in Hanmi Financial by 59.9% during the third quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock valued at $6,311,000 after acquiring an additional 145,703 shares during the period. American Century Companies Inc. raised its holdings in Hanmi Financial by 10.8% in the 3rd quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock valued at $5,825,000 after acquiring an additional 35,104 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Hanmi Financial by 2,264.9% in the 4th quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock valued at $4,671,000 after acquiring an additional 228,365 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

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.