DA Davidson Forecasts Hanmi Financial's Q1 Earnings Performance
DA Davidson Forecasts Hanmi Financial's Q1 Earnings Performance
Investment analysts at DA Davidson have recently provided their projections for Hanmi Financial Co. (NASDAQ: HAFC) regarding its first quarter 2025 earnings. According to the report released on January 30, analyst G. Tenner expects that the bank will achieve earnings of $0.55 per share for the upcoming quarter.
Key Earnings Highlights
- Current Neutral Rating: DA Davidson maintains a 'Neutral' rating with a target price set at $27.50.
- Full-Year Estimates: The consensus estimate for Hanmi Financial's total earnings for the current fiscal year stands at $2.28 per share.
Recent Financial Performance
On January 28, Hanmi Financial published its latest earnings results, reporting $0.58 EPS for the quarter, which surpassed the consensus estimate of $0.53 by $0.05. The bank's net margin was reported at 14.45%, while the return on equity reached 8.69%.
Analyst Opinions
Other analysts have shared their perspectives on Hanmi Financial:
- Keefe, Bruyette & Woods: Maintained a 'market perform' rating with an increased price target of $29.00.
- Piper Sandler: Upgraded the stock’s rating from 'neutral' to 'overweight', raising the target price from $20.00 to $25.50.
- Janney Montgomery Scott: Elevated the rating from 'neutral' to 'buy'.
- Wedbush: Reconfirmed a 'neutral' rating with a price target of $21.00.
As per MarketBeat.com data, Hanmi Financial is currently rated 'Hold' with an average price target of $25.75.
Hanmi Financial Stock Performance
Shares of NASDAQ:HAFC opened at $24.02 recently. The company's performance indicators are as follows:
- 50-Day Simple Moving Average: $24.13
- 200-Day Simple Moving Average: $21.76
- 52-Week Low/High: $14.45 / $27.59
- Market Cap: $725.31 million
- P/E Ratio: 11.72
- Beta: 0.89
- Quick Ratio: 0.99
- Current Ratio: 1.00
- Debt-to-Equity Ratio: 0.58
Institutional Investments
Recent activity among institutional investors showcases that several hedge funds have adjusted their holdings of Hanmi Financial:
- FMR LLC: Increased stake by 26.1% in Q3, totaling 879,979 shares.
- JPMorgan Chase & Co.: Boosted its position by 71.8%, now holding 836,145 shares.
- Stieven Capital Advisors L.P.: Raised its stake by 20.6%.
- Assenagon Asset Management S.A.: Increased holdings by 66.5%.
- Royce & Associates LP: Minor increase of 0.6% in their stake.
Conclusion
In summary, DA Davidson's analysis points towards a stable outlook for Hanmi Financial for Q1 2025, with positive underpinning developments following its latest earnings report. As the banking sector continues to navigate through varying economic conditions, investors will be keenly observing Hanmi's performance relative to these projections. It will be interesting to see whether Hanmi Financial can maintain its positive trajectory as further earnings reports come in.