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

Hanmi Financial Co. (NASDAQ:HAFC) – Equities research analysts at Wedbush lifted their Q3 2024 EPS estimates for shares of Hanmi Financial in a report issued on Wednesday, April 24th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.59 for the quarter, up from their prior 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 issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $63.43 million.

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

Hanmi Financial Stock Down 3.2 %

Shares of 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 50 day moving average price is $15.23 and its 200 day moving average price is $16.44. The firm has a market cap of $458.44 million, a P/E ratio of 6.31 and a beta of 0.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.01.

Hedge Funds Weigh In On Hanmi Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in Hanmi Financial by 151.2% in the 1st 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. Allspring Global Investments Holdings LLC lifted its holdings in Hanmi Financial by 10.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock worth $280,000 after buying an additional 1,730 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Hanmi Financial by 18.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock worth $308,000 after buying an additional 3,030 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after buying an additional 2,441 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of Hanmi Financial by 48.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 40,743 shares of the bank’s stock valued at $790,000 after purchasing an additional 13,297 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

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.