Hanmi Financial (NASDAQ:HAFC) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Hanmi Financial (NASDAQ:HAFC) issued its earnings results on Tuesday. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05, Zacks reports. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%.

Hanmi Financial Stock Up 7.2 %

Shares of NASDAQ HAFC opened at $24.54 on Thursday. The firm’s 50-day moving average is $24.22 and its two-hundred day moving average is $21.66. The company has a market capitalization of $741.11 million, a PE ratio of 11.80 and a beta of 0.89. Hanmi Financial has a 12-month low of $14.45 and a 12-month high of $27.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99.

Hanmi Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Monday, February 10th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.40%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, February 10th. Hanmi Financial’s dividend payout ratio is presently 48.08%.

Analyst Ratings Changes

Several equities analysts have issued reports on HAFC shares. DA Davidson boosted their target price on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Wedbush reiterated a “neutral” rating and issued a $21.00 price target on shares of Hanmi Financial in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 target price (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Finally, Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their target price for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.38.

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