Hanmi Financial (NASDAQ:HAFC) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

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Hanmi Financial (NASDAQ:HAFC) announced its earnings results on Tuesday. The bank reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.07), Fidelity Earnings reports. Hanmi Financial had a return on equity of 8.45% and a net margin of 16.44%. The business had revenue of $50.92 million for the quarter, compared to analyst estimates of $50.96 million.

NASDAQ HAFC traded down $0.71 on Wednesday, hitting $18.29. 10,873 shares of the stock were exchanged, compared to its average volume of 198,347. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.96. The business’s fifty day moving average is $18.41 and its 200 day moving average is $20.63. Hanmi Financial has a 52 week low of $17.01 and a 52 week high of $24.18. The company has a market capitalization of $567.29 million, a PE ratio of 9.62 and a beta of 1.18.

Several research analysts recently commented on HAFC shares. DA Davidson cut shares of Hanmi Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $27.00 to $21.50 in a report on Monday, August 12th. Zacks Investment Research upgraded shares of Hanmi Financial from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. BidaskClub upgraded shares of Hanmi Financial from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet cut shares of Hanmi Financial from a “b-” rating to a “c+” rating in a report on Monday, August 12th. Finally, ValuEngine upgraded shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Hanmi Financial currently has a consensus rating of “Hold” and an average price target of $22.25.

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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Earnings History for Hanmi Financial (NASDAQ:HAFC)

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