Hanmi Financial Corporation (HAFC) Forecasted to Post FY2017 Earnings of $1.82 Per Share
Hanmi Financial Corporation (NASDAQ:HAFC) – Stock analysts at DA Davidson decreased their FY2017 earnings per share estimates for Hanmi Financial Corporation in a report released on Wednesday. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $1.82 for the year, down from their previous forecast of $1.84. DA Davidson also issued estimates for Hanmi Financial Corporation’s Q4 2017 earnings at $0.48 EPS, Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $2.05 EPS.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Hanmi Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday. Keefe, Bruyette & Woods set a $28.00 price objective on Hanmi Financial Corporation and gave the company a “hold” rating in a research note on Saturday, October 7th. Piper Jaffray Companies reissued a “hold” rating and issued a $31.00 price objective on shares of Hanmi Financial Corporation in a research note on Friday, October 6th. ValuEngine raised Hanmi Financial Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, BidaskClub cut Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Hanmi Financial Corporation has an average rating of “Hold” and an average target price of $31.00.
Hanmi Financial Corporation (NASDAQ:HAFC) opened at 31.40 on Friday. Hanmi Financial Corporation has a 52-week low of $23.27 and a 52-week high of $35.85. The firm has a market cap of $1.02 billion, a P/E ratio of 17.74 and a beta of 0.81. The firm’s 50-day moving average price is $29.40 and its 200-day moving average price is $28.55.
Hanmi Financial Corporation (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Hanmi Financial Corporation had a return on equity of 10.60% and a net margin of 24.54%. The firm had revenue of $53.74 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the prior year, the firm posted $0.41 EPS.
A number of institutional investors have recently made changes to their positions in HAFC. Victory Capital Management Inc. acquired a new stake in Hanmi Financial Corporation in the first quarter valued at approximately $134,000. State of Alaska Department of Revenue grew its stake in Hanmi Financial Corporation by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 6,401 shares of the bank’s stock valued at $182,000 after acquiring an additional 2,831 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in Hanmi Financial Corporation by 4.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,630 shares of the bank’s stock valued at $217,000 after acquiring an additional 300 shares during the period. Airain ltd acquired a new stake in Hanmi Financial Corporation in the second quarter valued at approximately $226,000. Finally, Mason Street Advisors LLC grew its stake in Hanmi Financial Corporation by 7.3% in the first quarter. Mason Street Advisors LLC now owns 7,559 shares of the bank’s stock valued at $232,000 after acquiring an additional 511 shares during the period. 88.39% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 30th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, October 27th. This represents a $0.84 dividend on an annualized basis and a yield of 2.68%. Hanmi Financial Corporation’s dividend payout ratio (DPR) is presently 46.93%.
About Hanmi Financial Corporation
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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