Hanmi Financial (NASDAQ:HAFC) is scheduled to be releasing its earnings data after the market closes on Tuesday, October 23rd. Analysts expect Hanmi Financial to post earnings of $0.49 per share for the quarter.
Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, July 24th. The bank reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Hanmi Financial had a return on equity of 10.76% and a net margin of 22.68%. The business had revenue of $51.06 million during the quarter, compared to analyst estimates of $55.13 million. On average, analysts expect Hanmi Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of Hanmi Financial stock opened at $21.98 on Friday. Hanmi Financial has a twelve month low of $21.97 and a twelve month high of $33.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $726.34 million, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79.
Hanmi Financial announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 30th that allows the company to repurchase 1,600,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
Several analysts have weighed in on HAFC shares. ValuEngine cut shares of Hanmi Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $29.00 price objective on shares of Hanmi Financial in a research note on Wednesday, July 25th. Zacks Investment Research upgraded shares of Hanmi Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, July 23rd. Raymond James dropped their price objective on shares of Hanmi Financial from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, July 30th. Finally, BidaskClub cut shares of Hanmi Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.
In other news, Director John J. Ahn bought 4,000 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was bought at an average cost of $24.90 per share, for a total transaction of $99,600.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.91% of the stock is currently owned by insiders.
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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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