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

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

Hanmi Financial Stock Down 0.6 %

HAFC opened at $22.89 on Wednesday. The company has a market cap of $691.28 million, a P/E ratio of 11.00 and a beta of 0.89. The business’s 50-day moving average price is $24.22 and its 200-day moving average price is $21.66. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. Hanmi Financial has a 12 month low of $14.45 and a 12 month high of $27.59.

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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.72%. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s dividend payout ratio (DPR) is 48.08%.

Analysts Set New Price Targets

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