Hanmi Financial (NASDAQ:HAFC) Announces Earnings Results

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

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $23.04 on Friday. The stock has a fifty day moving average of $19.35 and a 200-day moving average of $17.56. Hanmi Financial has a fifty-two week low of $13.87 and a fifty-two week high of $23.14. The stock has a market cap of $700.12 million, a PE ratio of 9.60 and a beta of 0.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00.

Hanmi Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 4.34%. Hanmi Financial’s dividend payout ratio is 41.67%.

Analyst Ratings Changes

HAFC has been the subject of a number of research analyst reports. DA Davidson boosted their target price on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $25.50 in a research report on Thursday. Wedbush reissued a “neutral” rating and issued a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd.

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.