Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States.
Undervalued with excellent balance sheet.
Share Price & News
How has Hanmi Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: HAFC's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: HAFC underperformed the US Banks industry which returned -24.8% over the past year.
Return vs Market: HAFC underperformed the US Market which returned -11.5% over the past year.
Price Volatility Vs. Market
How volatile is Hanmi Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall StHow Does Hanmi Financial's (NASDAQ:HAFC) P/E Compare To Its Industry, After The Share Price Drop?
2 weeks ago | Simply Wall StA Sliding Share Price Has Us Looking At Hanmi Financial Corporation's (NASDAQ:HAFC) P/E Ratio
3 weeks ago | Simply Wall StShould Hanmi Financial Corporation (NASDAQ:HAFC) Be Part Of Your Income Portfolio?
Is Hanmi Financial undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: HAFC ($10.56) is trading below our estimate of fair value ($22.78)
Significantly Below Fair Value: HAFC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: HAFC is poor value based on its PE Ratio (10x) compared to the Banks industry average (8.9x).
PE vs Market: HAFC is good value based on its PE Ratio (10x) compared to the US market (13x).
Price to Earnings Growth Ratio
PEG Ratio: HAFC is good value based on its PEG Ratio (0.8x)
Price to Book Ratio
PB vs Industry: HAFC is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).
How is Hanmi Financial forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HAFC's forecast earnings growth (11.8% per year) is above the savings rate (1.7%).
Earnings vs Market: HAFC's earnings (11.8% per year) are forecast to grow slower than the US market (12.3% per year).
High Growth Earnings: HAFC's earnings are forecast to grow, but not significantly.
Revenue vs Market: HAFC's revenue (6.7% per year) is forecast to grow slower than the US market (7.3% per year).
High Growth Revenue: HAFC's revenue (6.7% 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 (7.9%).
How has Hanmi Financial performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HAFC has high quality earnings.
Growing Profit Margin: HAFC's current net profit margins (18.8%) are lower than last year (28.5%).
Past Earnings Growth Analysis
Earnings Trend: HAFC's earnings have declined by -2.2% per year over the past 5 years.
Accelerating Growth: HAFC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: HAFC had negative earnings growth (-43.4%) over the past year, making it difficult to compare to the Banks industry average (11.2%).
Return on Equity
High ROE: HAFC's Return on Equity (5.8%) is considered low.
How is Hanmi Financial's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: HAFC has a low level of unsold assets or inventory.
Debt Coverage by Assets: HAFC's debt is not covered by short term assets (assets are 0.8x debt).
Financial Institutions Analysis
Asset Level: HAFC's level of assets compared to its equity is low.
Allowance for Bad Loans: HAFC has a low allowance for bad loans.
Low Risk Liabilities: HAFC's liabilities are made up of primarily low risk sources of funding.
Loan Level: HAFC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: HAFC's loans are broadly funded by customer deposits.
Level of Bad Loans: HAFC has an appropriate level of bad loans (1.38%)
What is Hanmi Financial's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: HAFC's dividend (9.09%) is higher than the bottom 25% of dividend payers in the US market (1.98%).
High Dividend: HAFC's dividend (9.09%) is in the top 25% of dividend payers in the US market (5.45%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, HAFC has been paying a dividend for less than 10 years.
Growing Dividend: HAFC's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (90.6%), HAFC's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: HAFC's dividends in 3 years are forecast to be covered by earnings (70.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Bonnie Lee (56yo)
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 2018. She served as Chief Operating Of ...
CEO Compensation Analysis
Compensation vs Market: Bonnie's total compensation ($USD443.81K) is below average for companies of similar size in the US market ($USD2.14M).
Compensation vs Earnings: Bonnie's compensation has been consistent with company performance over the past year.
|Senior EVP & CFO||4.33yrs||US$860.98k||0.12% $391.9k|
|Executive VP & Chief Credit Administrative Officer of Hanmi Bank||3yrs||US$381.48k||0.033% $105.2k|
|Senior VP||no data||no data||no data|
|Chief Administrative Officer & Executive VP of Hanmi Bank||6.58yrs||US$500.45k||no data|
|Executive VP & Chief Credit Risk Officer||3yrs||US$223.04k||0.044% $142.9k|
Experienced Management: HAFC's management team is considered experienced (3 years average tenure).
|Independent Director||2yrs||US$104.92k||0.027% $85.4k|
|Independent Director||4.08yrs||US$116.87k||0.032% $104.2k|
|Independent Director||1.92yrs||US$93.12k||0.045% $143.5k|
|Independent Director||4.08yrs||US$123.62k||0.036% $114.7k|
|Independent Director||3.75yrs||US$117.12k||0.019% $61.9k|
|Vice Chairman||1.17yrs||US$122.12k||0.050% $159.7k|
|Independent Director||5yrs||US$121.02k||0.032% $104.0k|
Experienced Board: HAFC's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: HAFC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Hanmi Financial Corporation's company bio, employee growth, exchange listings and data sources
- Name: Hanmi Financial Corporation
- Ticker: HAFC
- Exchange: NasdaqGS
- Founded: 2000
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$321.368m
- Shares outstanding: 30.43m
- Website: https://www.hanmi.com
Number of Employees
- Hanmi Financial Corporation
- 3660 Wilshire Boulevard
- Penthouse Suite A
- Los Angeles
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|HAFC||NasdaqGS (Nasdaq Global Select)||Yes||Common Shares||US||USD||Jun 1994|
|HF7N||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Jun 1994|
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, including 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. In addition, the company offers consumer loans that include automobile loans, secured and unsecured personal loans, home improvement loans, home equity lines of credit, unsecured lines of credit, and credit cards; and small business administration loans for business purposes, which comprise owner-occupied commercial real estate, business acquisitions, start-ups, franchise financing, working capital, improvements and renovations, inventory and equipment, and debt-refinancing, as well as equipment lease financing. As of January 24, 2019, it operated a network of 39 full-service branches and 9 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia. The company was incorporated in 2000 and is headquartered in Los Angeles, California.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/29 00:23|
|End of Day Share Price||2020/03/27 00:00|
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.