Equities research analysts forecast that Hanmi Financial Corp (NASDAQ:HAFC) will report $51.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Hanmi Financial’s earnings, with estimates ranging from $50.70 million to $52.70 million. Hanmi Financial reported sales of $50.99 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.2%. The business is expected to announce its next earnings results on Tuesday, April 23rd.

On average, analysts expect that Hanmi Financial will report full-year sales of $212.53 million for the current fiscal year, with estimates ranging from $209.00 million to $215.40 million. For the next year, analysts anticipate that the business will report sales of $223.85 million, with estimates ranging from $215.70 million to $229.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Hanmi Financial.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, January 15th. The bank reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.05). Hanmi Financial had a return on equity of 10.74% and a net margin of 22.35%. The firm had revenue of $51.95 million during the quarter, compared to analysts’ expectations of $51.95 million. During the same quarter in the prior year, the company posted $0.48 earnings per share.

HAFC has been the subject of several research reports. BidaskClub upgraded Hanmi Financial from a “hold” rating to a “buy” rating in a report on Friday, January 25th. TheStreet cut Hanmi Financial from a “b-” rating to a “c+” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded Hanmi Financial from a “sell” rating to a “hold” rating in a report on Friday, December 28th. FIG Partners cut Hanmi Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 24th. Finally, Raymond James cut Hanmi Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $27.33.

Shares of HAFC stock opened at $22.39 on Thursday. Hanmi Financial has a twelve month low of $17.56 and a twelve month high of $32.35. The firm has a market capitalization of $699.80 million, a price-to-earnings ratio of 11.78, a PEG ratio of 1.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Wednesday, January 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, January 29th. Hanmi Financial’s dividend payout ratio (DPR) is currently 50.53%.

Hanmi Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, January 24th that authorizes the company to buyback 1,500,000 shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in shares of Hanmi Financial by 9.1% during the 3rd quarter. Legal & General Group Plc now owns 69,786 shares of the bank’s stock worth $1,740,000 after purchasing an additional 5,834 shares during the last quarter. WBI Investments Inc. purchased a new stake in shares of Hanmi Financial during the 3rd quarter worth $277,000. Systematic Financial Management LP lifted its stake in shares of Hanmi Financial by 12.5% during the 3rd quarter. Systematic Financial Management LP now owns 504,462 shares of the bank’s stock worth $12,561,000 after purchasing an additional 55,984 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Hanmi Financial by 32.3% during the 3rd quarter. Bank of Montreal Can now owns 133,067 shares of the bank’s stock worth $3,313,000 after purchasing an additional 32,494 shares during the last quarter. Finally, Foundry Partners LLC lifted its stake in shares of Hanmi Financial by 6.3% during the 3rd quarter. Foundry Partners LLC now owns 212,490 shares of the bank’s stock worth $5,291,000 after purchasing an additional 12,545 shares during the last quarter. Hedge funds and other institutional investors own 90.85% 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. 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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Earnings History and Estimates for Hanmi Financial (NASDAQ:HAFC)

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