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Hanmi Financial Corp. (HAFC)
NASDAQ:HAFC
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.58Last Year’s EPS
0.5Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 28, 2025
|% Change Since: 6.93%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive sentiment with substantial growth in net income, deposit growth, and successful initiatives like USKC. However, there were challenges in maintaining loan production levels and managing noninterest income and expenses.Company Guidance
In the Hanmi Financial Corporation's fourth quarter and full year 2024 conference call, several key metrics and strategic initiatives were highlighted. The company reported a net income of $62.2 million, translating to $2.05 per diluted share, with a return on average assets of 0.83% and a return on average equity of 7.97%. Hanmi Financial saw a 16% increase in its commercial and industrial (C&I) portfolio, contributing to a 4.6% rise in noninterest-bearing deposits, which now represent 32.6% of total deposits. The Corporate Korea initiative was a significant growth driver, with a 23% increase in its loan portfolio, now constituting 15% of the total loan portfolio. The company maintained a strong asset quality, with nonperforming assets at 0.19% of total assets and an allowance for credit losses at 1.12%. Hanmi also achieved a 2.5% deposit growth, driven by a strategic focus on relationship banking, while optimizing its branch network and managing expenses, which only rose by 3.5% despite inflationary pressures. The company plans to target low to mid-single-digit loan growth in 2025, focusing on expanding its C&I portfolio and reducing its commercial real estate exposure.Strong Net Income and Dividend Increase
Net income for 2024 reached $62.2 million or $2.05 per diluted share. The board approved an 8% increase in the quarterly dividend to $0.27 per share for the next dividend payment in February.
C&I Portfolio and USKC Initiative Growth
C&I portfolio increased by 16% as part of their diversification strategy, driven by the USKC initiative. The USKC loan portfolio grew by 23%, now representing 15% of the total loan portfolio.
Deposit Growth and Relationship Banking Success
Deposits grew by 2.5% in 2024, with a 4.6% increase in noninterest-bearing deposits, now accounting for 32.6% of total deposits. This reflects the success of their relationship-driven banking model.
Asset Quality and Capital Ratios
Nonperforming assets improved to 0.19%, and allowance for credit losses remained healthy at 1.12%. The preliminary common Tier 1 ratio was 12.11%, and the bank's preliminary total capital ratio was 14.43%.
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HAFC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HAFC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 28, 2025 | $22.64 | $24.27 | +7.20% |
| Oct 22, 2024 | $19.69 | $21.09 | +7.11% |
| Jul 23, 2024 | $19.98 | $18.74 | -6.21% |
| Apr 23, 2024 | $14.86 | $14.38 | -3.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Hanmi Financial Corp. (HAFC) report earnings?
Hanmi Financial Corp. (HAFC) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Hanmi Financial Corp. (HAFC) earnings time?
Hanmi Financial Corp. (HAFC) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HAFC EPS forecast?
HAFC EPS forecast for the fiscal quarter 2025 (Q1) is 0.58.
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