$0.48 EPS Expected for Hanmi Financial Corp (HAFC) This Quarter
Wall Street brokerages predict that Hanmi Financial Corp (NASDAQ:HAFC) will announce earnings of $0.48 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Hanmi Financial’s earnings, with estimates ranging from $0.46 to $0.49. Hanmi Financial posted earnings of $0.46 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, April 23rd.
On average, analysts expect that Hanmi Financial will report full-year earnings of $2.14 per share for the current financial year, with EPS estimates ranging from $2.00 to $2.25. For the next financial year, analysts anticipate that the business will post earnings of $2.33 per share, with EPS estimates ranging from $2.10 to $2.47. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Hanmi Financial.
Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 15th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.05). The business had revenue of $51.95 million for the quarter, compared to the consensus estimate of $51.95 million. Hanmi Financial had a net margin of 22.35% and a return on equity of 10.74%. During the same quarter last year, the firm posted $0.48 earnings per share.
A number of large investors have recently modified their holdings of HAFC. Flinton Capital Management LLC lifted its holdings in Hanmi Financial by 30.3% during the fourth quarter. Flinton Capital Management LLC now owns 5,544 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,288 shares in the last quarter. Neuburgh Advisers LLC lifted its holdings in Hanmi Financial by 30.3% during the fourth quarter. Neuburgh Advisers LLC now owns 6,732 shares of the bank’s stock valued at $133,000 after purchasing an additional 1,564 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Hanmi Financial by 356.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,604 shares of the bank’s stock worth $209,000 after buying an additional 8,281 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Hanmi Financial in the fourth quarter worth $238,000. Finally, Magnus Financial Group LLC purchased a new position in shares of Hanmi Financial in the fourth quarter worth $280,000. 88.02% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ HAFC traded down $0.06 during trading hours on Thursday, hitting $21.51. 126,600 shares of the company’s stock traded hands, compared to its average volume of 201,568. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $663.60 million, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. Hanmi Financial has a 52 week low of $17.56 and a 52 week high of $32.10.
Hanmi Financial declared that its Board of Directors has authorized a stock repurchase plan on Thursday, January 24th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Wednesday, January 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, January 29th. Hanmi Financial’s dividend payout ratio is currently 50.53%.
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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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