Hanmi Financial (NASDAQ:HAFC) Releases Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Hanmi Financial reported quarterly EPS of $0.80, falling $0.01 short of analysts’ $0.81 consensus estimate, while revenue of $76.60 million exceeded expectations of $75.13 million.
• Shares rose 0.7% to $32.41, near the company’s 52-week high of $33.50. Hanmi Financial reported an 11.20% return on equity and a 19.82% net margin.
• Analysts maintain a consensus “Hold” rating with a $33.00 price target; ratings include two Buys and four Holds.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) announced its quarterly earnings data on Tuesday. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.01), FiscalAI reports. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. The firm had revenue of $76.60 million for the quarter, compared to analyst estimates of $75.13 million.

Hanmi Financial Trading Up 0.7%

Shares of Hanmi Financial stock traded up $0.24 during trading on Tuesday, hitting $32.41. The company's stock had a trading volume of 243,158 shares, compared to its average volume of 259,306. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. Hanmi Financial has a 52 week low of $24.54 and a 52 week high of $33.50. The stock has a market cap of $960.96 million, a price-to-earnings ratio of 10.91 and a beta of 0.75. The stock has a 50-day moving average price of $31.52 and a two-hundred day moving average price of $29.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HAFC shares. Weiss Ratings reissued a "buy (b)" rating on shares of Hanmi Financial in a report on Monday, September 21st. DA Davidson raised their price objective on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $33.00.

About Hanmi Financial

Hanmi Financial Corporation is the holding company for Hanmi Bank, a commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American and other small-business communities and has developed into a full-service regional bank serving individuals, businesses, and professional organizations.

Hanmi Bank offers commercial and consumer deposit accounts, business and personal lending, commercial real estate financing, small business loans, construction loans, and trade finance services.

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