Hanmi Financial Corporation Announces Fourth Quarter 2024 Earnings and Conference Call Date
Tuesday, Jan 14, 2025 4:10 pm ET
2min read Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank, has announced its fourth quarter 2024 earnings release and conference call date. The financial results will be announced after market close on Tuesday, January 28, 2025, followed by a management-hosted conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
Investment professionals and all current and prospective shareholders are invited to access the live call by dialing 1-877-407-9039 before 2:00 p.m. Pacific Time, using access code "Hanmi Bank". To listen to the call online, visit the investor relations page of Hanmi's website at
Hanmi Financial Corporation is headquartered in Los Angeles, California, and owns Hanmi Bank, which serves multi-ethnic communities through its network of 32 full-service branches and eight loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia. Hanmi Bank specializes in real estate, commercial, SBA, and trade finance lending to small and middle market businesses.
Image of Hanmi Bank's headquarters in Los Angeles, California.
Hanmi Financial Corporation's stock (HAFC) is currently trading at $21.65, with a 52-week high of $27.59 and a 52-week low of $14.45. The stock has a beta of 0.88, indicating a lower volatility compared to the broader market. The company's stock price has experienced a 16.73% decrease over the past month, a 4.84% increase over the past three months, a 17.60% increase over the past year, and a 10.91% increase over the past five years. Since its IPO, the stock has appreciated by 179.25%.
Chart showing Hanmi Financial Corporation's stock price changes over the past three years.
Hanmi Financial Corporation has a Snowflake Score of 6/6 for Valuation, 1/6 for Future Growth, 2/6 for Past Performance, 6/6 for Financial Health, and 4/6 for Dividends. The company's earnings are forecast to grow at a rate of 10.38% per year, and analysts have a consensus price target of $25.50, indicating a 15.1% undervalued intrinsic discount. The company's dividend yield is 5.0%, and its payout ratio is 30% to 50% of its earnings.
Hanmi Financial Corporation's earnings trends have evolved over the past year, with net income declining from $18.6 million in the fourth quarter of 2023 to $15.2 million in the first quarter of 2024. This decline reflects a change to a credit loss expense for the first quarter from a recovery during the fourth quarter of 2023, lower net interest income, and higher noninterest expense, partially offset by higher noninterest income. The company's return on average assets for the first quarter was 0.81%, and the return on average equity was 7.90%, compared to a return on average assets of 0.99% and the return on average equity of 9.70% for the fourth quarter of 2023.
Hanmi's loan portfolio diversification and geographic expansion have positively impacted its earnings and growth prospects. The company's relationship banking model has enabled it to attract new customers, expanding its market share and driving a 6% annualized increase in deposits and a nearly 4% net increase in its C&I portfolio in the first quarter of 2024. Hanmi's disciplined credit administration practices have maintained strong asset quality, with criticized loans declining 11.1% from the year-end 2023 to $86.0 million, or 1.4% of loans. Nonperforming assets declined 9.3% to $14.1 million, or 0.19% of total assets, and net charge offs were low at $1.6 million, or 0.10% of average loans (annualized).
Hanmi Financial Corporation's fourth quarter 2024 earnings release and conference call on January 28, 2025, will provide valuable insights into the company's financial performance and strategic direction. Investors and shareholders are encouraged to participate in the live call or listen to the webcast to stay informed about the company's progress and future prospects.
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