Analysts Anticipate Hanmi Financial Corp (HAFC) Will Announce Quarterly Sales of $55.17 Million

Equities analysts expect Hanmi Financial Corp (NASDAQ:HAFC) to announce sales of $55.17 million for the current quarter, according to Zacks. Three analysts have made estimates for Hanmi Financial’s earnings, with the lowest sales estimate coming in at $55.10 million and the highest estimate coming in at $55.30 million. Hanmi Financial posted sales of $49.57 million in the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The business is expected to announce its next quarterly earnings report after the market closes on Tuesday, April 24th.

On average, analysts expect that Hanmi Financial will report full year sales of $231.67 million for the current financial year, with estimates ranging from $229.70 million to $233.40 million. For the next financial year, analysts anticipate that the firm will report sales of $253.23 million per share, with estimates ranging from $250.50 million to $257.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Hanmi Financial.

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Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. Hanmi Financial had a net margin of 22.52% and a return on equity of 10.59%. The firm had revenue of $54.03 million during the quarter, compared to analysts’ expectations of $54.53 million.

Several brokerages recently issued reports on HAFC. BidaskClub cut shares of Hanmi Financial from a “hold” rating to a “sell” rating in a report on Friday, January 5th. ValuEngine raised shares of Hanmi Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research cut shares of Hanmi Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $32.00 price target on shares of Hanmi Financial in a research report on Friday, December 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $33.00.

Shares of Hanmi Financial stock traded down $0.40 during trading on Friday, hitting $30.65. 191,355 shares of the company’s stock were exchanged, compared to its average volume of 175,518. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 1.02. Hanmi Financial has a 52-week low of $25.45 and a 52-week high of $33.10. The stock has a market cap of $1,013.00, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.67.

In other news, Director John J. Ahn purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were bought at an average price of $31.56 per share, for a total transaction of $94,680.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.66% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Boston Partners grew its position in Hanmi Financial by 8.1% during the fourth quarter. Boston Partners now owns 753,090 shares of the bank’s stock valued at $22,857,000 after buying an additional 56,353 shares during the period. BlackRock Inc. grew its position in Hanmi Financial by 4.1% during the fourth quarter. BlackRock Inc. now owns 4,253,574 shares of the bank’s stock valued at $129,097,000 after buying an additional 169,321 shares during the period. Rhumbline Advisers grew its position in Hanmi Financial by 15.9% during the fourth quarter. Rhumbline Advisers now owns 78,178 shares of the bank’s stock valued at $2,373,000 after buying an additional 10,751 shares during the period. Westwood Holdings Group Inc. grew its position in Hanmi Financial by 4.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 828,835 shares of the bank’s stock valued at $25,155,000 after buying an additional 36,485 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Hanmi Financial by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,019,495 shares of the bank’s stock valued at $62,503,000 after buying an additional 10,659 shares during the period. Institutional investors own 88.90% of the company’s stock.

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Hanmi Financial Company Profile

Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.

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Earnings History and Estimates for Hanmi Financial (NASDAQ:HAFC)

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