Wedbush Reaffirms “Neutral” Rating for Hanmi Financial (NASDAQ:HAFC)

Wedbush restated their neutral rating on shares of Hanmi Financial (NASDAQ:HAFC) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $17.00 price objective on the bank’s stock. Wedbush also issued estimates for Hanmi Financial’s Q2 2024 earnings at $0.55 EPS, Q3 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.57 EPS and Q1 2025 earnings at $0.55 EPS.

Separately, Keefe, Bruyette & Woods cut their price target on shares of Hanmi Financial from $20.00 to $18.50 and set a market perform rating for the company in a report on Wednesday, January 24th.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $15.82 on Wednesday. Hanmi Financial has a twelve month low of $13.35 and a twelve month high of $20.31. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $479.03 million, a price-to-earnings ratio of 6.59 and a beta of 0.95. The firm has a 50-day moving average of $15.24 and a two-hundred day moving average of $16.43.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.70%. The company had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million. As a group, analysts expect that Hanmi Financial will post 2.1 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, May 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend is Friday, May 3rd. Hanmi Financial’s dividend payout ratio is presently 41.67%.

Institutional Trading of Hanmi Financial

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in Hanmi Financial during the fourth quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new position in shares of Hanmi Financial in the 4th quarter valued at about $37,000. Strs Ohio acquired a new position in shares of Hanmi Financial in the 3rd quarter valued at about $30,000. Simplex Trading LLC increased its holdings in shares of Hanmi Financial by 1,406.7% in the 4th quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,899 shares during the period. Finally, CWM LLC increased its holdings in shares of Hanmi Financial by 291.6% in the 4th quarter. CWM LLC now owns 2,232 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,662 shares during the period. 88.66% of the stock is owned by hedge funds and other institutional investors.

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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.