DA Davidson Lowers Earnings Estimates for Hanmi Financial

Key Points

• DA Davidson has lowered their earnings estimates for Hanmi Financial for FY2025 from $2.57 to $2.32 per share, maintaining a "Neutral" rating with a price target of $27.00.
• The company reported earnings of $0.50 per share for the last quarter, missing analysts' expectations of $0.62, with revenue of $65.21 million compared to expected $65.70 million.
• Hanmi Financial recently declared a quarterly dividend of $0.27 per share, equating to an annualized dividend yield of 4.68%.

Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) - DA Davidson dropped their FY2025 earnings estimates for Hanmi Financial in a research note issued to investors on Wednesday, July 23rd. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $2.32 per share for the year, down from their prior estimate of $2.57. DA Davidson has a "Neutral" rating and a $27.00 price objective on the stock. The consensus estimate for Hanmi Financial's current full-year earnings is $2.60 per share. DA Davidson also issued estimates for Hanmi Financial's FY2026 earnings at $2.62 EPS.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their price target on Hanmi Financial from $27.00 to $28.00 and gave the stock a "market perform" rating in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.00.

Hanmi Financial Price Performance

HAFC opened at $23.09 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. Hanmi Financial has a 52-week low of $17.37 and a 52-week high of $27.59. The company has a 50 day moving average of $24.17 and a two-hundred day moving average of $23.30. The company has a market cap of $697.55 million, a P/E ratio of 10.74 and a beta of 0.73.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.12). Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. The company had revenue of $65.21 million during the quarter, compared to analysts' expectations of $65.70 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share.

Hanmi Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, August 4th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.68%. Hanmi Financial's dividend payout ratio (DPR) is presently 50.23%.

Institutional Trading of Hanmi Financial

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Hanmi Financial by 91.4% during the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after buying an additional 681 shares during the period. Quarry LP increased its stake in Hanmi Financial by 114.3% during the 1st quarter. Quarry LP now owns 1,830 shares of the bank's stock valued at $41,000 after buying an additional 976 shares during the period. Curat Global LLC bought a new position in shares of Hanmi Financial during the 1st quarter valued at about $42,000. US Bancorp DE bought a new position in shares of Hanmi Financial during the 1st quarter valued at about $42,000. Finally, Quantbot Technologies LP boosted its position in shares of Hanmi Financial by 5,858.5% during the 4th quarter. Quantbot Technologies LP now owns 2,443 shares of the bank's stock valued at $58,000 after purchasing an additional 2,402 shares in the last quarter. Institutional investors and hedge funds own 88.66% 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

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