DA Davidson Lowers Earnings Estimates for Hanmi Financial

Hanmi Financial Co. (NASDAQ:HAFC) – Equities research analysts at DA Davidson cut their FY2025 earnings per share (EPS) estimates for shares of Hanmi Financial in a report released on Thursday, December 19th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $2.15 per share for the year, down from their previous forecast of $2.18. DA Davidson currently has a “Neutral” rating and a $22.00 target price on the stock. The consensus estimate for Hanmi Financial’s current full-year earnings is $2.00 per share.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The company had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. During the same period in the previous year, the business earned $0.62 earnings per share.

HAFC has been the subject of a number of other research reports. Wedbush restated a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Finally, Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Hanmi Financial currently has an average rating of “Hold” and a consensus price target of $24.38.

Hanmi Financial Price Performance

Hanmi Financial stock opened at $23.80 on Monday. The firm has a market capitalization of $718.66 million, a PE ratio of 11.44 and a beta of 0.87. Hanmi Financial has a 52 week low of $14.45 and a 52 week high of $27.59. The firm’s 50-day simple moving average is $24.40 and its 200 day simple moving average is $20.38. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Monday, November 4th. Hanmi Financial’s payout ratio is 48.08%.

Institutional Trading of Hanmi Financial

Hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund Corp lifted its stake in shares of Hanmi Financial by 129.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank’s stock worth $1,002,000 after purchasing an additional 33,747 shares during the period. Sanctuary Advisors LLC purchased a new position in Hanmi Financial during the second quarter worth about $534,000. FMR LLC lifted its position in Hanmi Financial by 26.1% during the third quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after buying an additional 182,164 shares during the period. Acadian Asset Management LLC boosted its stake in Hanmi Financial by 71.8% in the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after buying an additional 201,789 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Hanmi Financial by 49.1% in the 3rd quarter. SG Americas Securities LLC now owns 28,746 shares of the bank’s stock valued at $535,000 after buying an additional 9,465 shares during the period. Institutional investors and hedge funds own 88.66% 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.