company background image
HAFC

Hanmi Financial NasdaqGS:HAFC Stock Report

Last Price

US$22.44

Market Cap

US$678.2m

7D

2.1%

1Y

16.8%

Updated

30 Jun, 2022

Data

Company Financials +
HAFC fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends2/6

HAFC Stock Overview

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States.

Hanmi Financial Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Hanmi Financial
Historical stock prices
Current Share PriceUS$22.44
52 Week HighUS$28.84
52 Week LowUS$16.67
Beta1.06
1 Month Change-3.86%
3 Month Change-9.59%
1 Year Change16.81%
3 Year Change1.45%
5 Year Change-20.85%
Change since IPO189.44%

Recent News & Updates

Jun 12
If You Like EPS Growth Then Check Out Hanmi Financial (NASDAQ:HAFC) Before It's Too Late

If You Like EPS Growth Then Check Out Hanmi Financial (NASDAQ:HAFC) Before It's Too Late

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Feb 20

Hanmi Financial: Attractively Valued With A Positive Outlook On Topline Growth

Nationwide economic recovery will likely drive mid-single-digit loan growth this year. The presence of liquid assets and sticky deposit costs will ensure that the margin expands soon after a rate hike. The December 2022 target price suggests a high upside from the current market price. Further, HAFC is offering a decent dividend yield.

Shareholder Returns

HAFCUS BanksUS Market
7D2.1%-0.01%1.6%
1Y16.8%-18.2%-20.8%

Return vs Industry: HAFC exceeded the US Banks industry which returned -18.2% over the past year.

Return vs Market: HAFC exceeded the US Market which returned -20.8% over the past year.

Price Volatility

Is HAFC's price volatile compared to industry and market?
HAFC volatility
HAFC Average Weekly Movement4.2%
Banks Industry Average Movement3.8%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.2%

Stable Share Price: HAFC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: HAFC's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1982589Bonnie Leehttps://www.hanmi.com

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. It also provides real estate loans, such as commercial property, construction, and residential property loans; and commercial and industrial loans, such as commercial term loans and commercial lines of credit, as well as international finance, and trade services and products comprising letters of credit, and import and export financing.

Hanmi Financial Fundamentals Summary

How do Hanmi Financial's earnings and revenue compare to its market cap?
HAFC fundamental statistics
Market CapUS$678.21m
Earnings (TTM)US$102.02m
Revenue (TTM)US$267.03m

6.6x

P/E Ratio

1.1x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HAFC income statement (TTM)
RevenueUS$267.03m
Cost of RevenueUS$0
Gross ProfitUS$267.03m
Other ExpensesUS$165.01m
EarningsUS$102.02m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)3.38
Gross Margin100.00%
Net Profit Margin38.21%
Debt/Equity Ratio41.6%

How did HAFC perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

20%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is HAFC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAFC?

Other financial metrics that can be useful for relative valuation.

HAFC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-2.8x

Price to Earnings Ratio vs Peers

How does HAFC's PE Ratio compare to its peers?

HAFC PE Ratio vs Peers
The above table shows the PE ratio for HAFC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average8.6x
FMBH First Mid Bancshares
11.4x12.4%US$734.9m
HMST HomeStreet
6.1x7.7%US$664.2m
CFB CrossFirst Bankshares
8.8x6.7%US$660.8m
FFIC Flushing Financial
8x-11.6%US$649.1m
HAFC Hanmi Financial
6.6x-2.3%US$676.4m

Price-To-Earnings vs Peers: HAFC is good value based on its Price-To-Earnings Ratio (6.6x) compared to the peer average (8.6x).


Price to Earnings Ratio vs Industry

How does HAFC's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: HAFC is good value based on its Price-To-Earnings Ratio (6.6x) compared to the US Banks industry average (9.5x)


Price to Earnings Ratio vs Fair Ratio

What is HAFC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAFC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.6x
Fair PE Ratio10.5x

Price-To-Earnings vs Fair Ratio: HAFC is good value based on its Price-To-Earnings Ratio (6.6x) compared to the estimated Fair Price-To-Earnings Ratio (10.5x).


Share Price vs Fair Value

What is the Fair Price of HAFC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAFC ($22.44) is trading below our estimate of fair value ($66.8)

Significantly Below Fair Value: HAFC is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: HAFC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Discover undervalued companies

Future Growth

How is Hanmi Financial forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-2.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HAFC's earnings are forecast to decline over the next 3 years (-2.3% per year).

Earnings vs Market: HAFC's earnings are forecast to decline over the next 3 years (-2.3% per year).

High Growth Earnings: HAFC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: HAFC's revenue (6.2% per year) is forecast to grow slower than the US market (8.3% per year).

High Growth Revenue: HAFC's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HAFC's Return on Equity is forecast to be low in 3 years time (12.3%).


Discover growth companies

Past Performance

How has Hanmi Financial performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


7.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HAFC has high quality earnings.

Growing Profit Margin: HAFC's current net profit margins (38.2%) are higher than last year (28.4%).


Past Earnings Growth Analysis

Earnings Trend: HAFC's earnings have grown by 7.4% per year over the past 5 years.

Accelerating Growth: HAFC's earnings growth over the past year (82.5%) exceeds its 5-year average (7.4% per year).

Earnings vs Industry: HAFC earnings growth over the past year (82.5%) exceeded the Banks industry 20.7%.


Return on Equity

High ROE: HAFC's Return on Equity (16.5%) is considered low.


Discover strong past performing companies

Financial Health

How is Hanmi Financial's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: HAFC's Assets to Equity ratio (10.8x) is moderate.

Allowance for Bad Loans: HAFC has a sufficient allowance for bad loans (623%).

Low Risk Liabilities: 95% of HAFC's liabilities are made up of primarily low risk sources of funding.

Loan Level: HAFC has an appropriate level of Loans to Assets ratio (78%).

Low Risk Deposits: HAFC's Loans to Deposits ratio (91%) is appropriate.

Level of Bad Loans: HAFC has an appropriate level of bad loans (0.2%).


Discover healthy companies

Dividend

What is Hanmi Financial current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.92%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HAFC's dividend (3.92%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: HAFC's dividend (3.92%) is low compared to the top 25% of dividend payers in the US market (4.3%).


Stability and Growth of Payments

Stable Dividend: HAFC has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: HAFC's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (19.6%), HAFC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.6yrs

Average management tenure


CEO

Bonnie Lee (58 yo)

8.83yrs

Tenure

US$1,869,786

Compensation

Ms. Bonita I. Lee, also known as Bonnie, has been Chief Executive Officer of Hanmi Financial Corporation and Hanmi Bank since May 3, 2019 and its President since June 15, 2018. She served as Chief Operatin...


CEO Compensation Analysis

Compensation vs Market: Bonnie's total compensation ($USD1.87M) is below average for companies of similar size in the US market ($USD4.00M).

Compensation vs Earnings: Bonnie's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: HAFC's management team is seasoned and experienced (6.6 years average tenure).


Board Members

Experienced Board: HAFC's board of directors are considered experienced (6.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Hanmi Financial Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Hanmi Financial Corporation
  • Ticker: HAFC
  • Exchange: NasdaqGS
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$678.211m
  • Shares outstanding: 30.22m
  • Website: https://www.hanmi.com

Number of Employees


Location

  • Hanmi Financial Corporation
  • 900 Wilshire Boulevard
  • Suite 1250
  • Los Angeles
  • California
  • 90017
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.