Hanmi Financial Corp (HAFC) Expected to Post Quarterly Sales of $51.60 Million
Brokerages forecast that Hanmi Financial Corp (NASDAQ:HAFC) will report sales of $51.60 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Hanmi Financial’s earnings, with the highest sales estimate coming in at $52.70 million and the lowest estimate coming in at $50.70 million. Hanmi Financial reported sales of $50.99 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The company 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 expect that the business will post sales of $223.85 million, with estimates ranging from $215.70 million to $229.50 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hanmi Financial.
Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, January 15th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.05). The company had revenue of $51.95 million for the quarter, compared to analysts’ expectations of $51.95 million. Hanmi Financial had a net margin of 22.35% and a return on equity of 10.74%. During the same period in the previous year, the firm posted $0.48 earnings per share.
NASDAQ:HAFC opened at $21.64 on Tuesday. The stock has a market capitalization of $687.73 million, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.94. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. Hanmi Financial has a 1-year low of $17.56 and a 1-year high of $32.35.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Wednesday, January 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Tuesday, January 29th. Hanmi Financial’s dividend payout ratio is presently 50.53%.
Several large investors have recently added to or reduced their stakes in HAFC. Russell Investments Group Ltd. bought a new position in Hanmi Financial in the 2nd quarter worth about $491,000. Schwab Charles Investment Management Inc. boosted its stake in Hanmi Financial by 6.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 170,954 shares of the bank’s stock worth $4,847,000 after purchasing an additional 10,226 shares in the last quarter. BlackRock Inc. boosted its stake in Hanmi Financial by 6.2% in the 2nd quarter. BlackRock Inc. now owns 4,618,457 shares of the bank’s stock worth $130,934,000 after purchasing an additional 271,266 shares in the last quarter. Legal & General Group Plc boosted its stake in Hanmi Financial by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 63,952 shares of the bank’s stock worth $1,821,000 after purchasing an additional 3,539 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Hanmi Financial in the 2nd quarter worth about $225,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
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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