Brokerages Anticipate Hanmi Financial Co. (NASDAQ:HAFC) Will Post Quarterly Sales of $56.40 Million

Brokerages expect Hanmi Financial Co. (NASDAQ:HAFC) to post sales of $56.40 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Hanmi Financial’s earnings. The highest sales estimate is $57.40 million and the lowest is $54.80 million. Hanmi Financial posted sales of $52.75 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 26th.

According to Zacks, analysts expect that Hanmi Financial will report full-year sales of $226.10 million for the current financial year, with estimates ranging from $221.80 million to $228.50 million. For the next financial year, analysts expect that the company will report sales of $224.60 million, with estimates ranging from $215.30 million to $234.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Hanmi Financial.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Monday, July 26th. The bank reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.24. The company had revenue of $58.46 million for the quarter, compared to the consensus estimate of $53.50 million. Hanmi Financial had a net margin of 27.72% and a return on equity of 11.95%.

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in shares of Hanmi Financial in the 1st quarter worth about $56,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Hanmi Financial by 77,888.9% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,019 shares of the bank’s stock valued at $134,000 after purchasing an additional 7,010 shares in the last quarter. Carolina Wealth Advisors LLC raised its holdings in shares of Hanmi Financial by 28.4% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 7,437 shares of the bank’s stock valued at $142,000 after purchasing an additional 1,644 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Hanmi Financial by 51.5% in the 2nd quarter. MetLife Investment Management LLC now owns 11,484 shares of the bank’s stock valued at $219,000 after purchasing an additional 3,903 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Hanmi Financial by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 11,945 shares of the bank’s stock valued at $237,000 after purchasing an additional 3,331 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Shares of HAFC stock traded down $0.25 on Tuesday, hitting $17.94. 152,864 shares of the stock traded hands, compared to its average volume of 177,328. The firm has a market cap of $550.70 million, a price-to-earnings ratio of 7.90 and a beta of 1.35. Hanmi Financial has a 52 week low of $7.47 and a 52 week high of $22.29. The firm has a 50 day simple moving average of $18.41 and a two-hundred day simple moving average of $19.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.96.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 26th. Shareholders of record on Monday, August 9th were paid a $0.12 dividend. The ex-dividend date was Friday, August 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.68%. Hanmi Financial’s payout ratio is currently 34.78%.

About Hanmi Financial

Hanmi Financial Corp. is a holding company, which engages in the provision of commercial banking and financial services. It offers checking, money market and savings, treasury management, and loans. The company was founded in 1982 and is headquartered in Los Angeles, CA.

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

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