Stock Analysis Report

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Executive Summary

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

Snowflake Analysis

Flawless balance sheet and fair value.

Similar Companies

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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: HAFC's weekly volatility (8%) has been stable over the past year.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: HAFC underperformed the US Banks industry which returned -7.2% over the past year.

Return vs Market: HAFC underperformed the US Market which returned 22.8% over the past year.

Shareholder returns

7 Day-3.6%-5.3%1.4%
30 Day13.6%9.9%4.9%
90 Day33.9%29.9%14.6%
1 Year-32.6%-35.5%-5.0%-8.4%25.4%22.6%
3 Year-56.0%-61.2%-2.1%-10.5%46.8%37.0%
5 Year-29.9%-41.5%82.1%59.0%132.0%106.1%

Long-Term 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


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 ($12.4) is trading below our estimate of fair value ($13.8)

Significantly Below Fair Value: HAFC is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: HAFC's PE Ratio (12.3x) is in line with the US Banks industry average.

PE vs Market: HAFC is good value based on its PE Ratio (12.3x) compared to the US market (21.1x).

Price to Earnings Growth Ratio

PEG Ratio: HAFC is poor value based on its PEG Ratio (7.4x)

Price to Book Ratio

PB vs Industry: HAFC is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (1x).

Next Steps

Future Growth

How is Hanmi Financial forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HAFC's forecast earnings growth (1.7% per year) is below the savings rate (2%).

Earnings vs Market: HAFC's earnings (1.7% per year) are forecast to grow slower than the US market (21.6% per year).

High Growth Earnings: HAFC's earnings are forecast to grow, but not significantly.

Revenue vs Market: HAFC's revenue (2.1% per year) is forecast to grow slower than the US market (10.5% per year).

High Growth Revenue: HAFC's revenue (2.1% 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 (6.3%).

Next Steps

Past Performance

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 (18.2%) are lower than last year (22.4%).

Past Earnings Growth Analysis

Earnings Trend: HAFC's earnings have declined by 10.5% 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 (-24.9%) over the past year, making it difficult to compare to the Banks industry average (-4.3%).

Return on Equity

High ROE: HAFC's Return on Equity (5.5%) is considered low.

Next Steps

Financial Health

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

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 (135%).

Low Risk Liabilities: 94% 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 (1.3%).

Next Steps


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


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HAFC's dividend (2.58%) is higher than the bottom 25% of dividend payers in the US market (1.37%).

High Dividend: HAFC's dividend (2.58%) is low compared to the top 25% of dividend payers in the US market (3.86%).

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 7 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (67.6%), HAFC's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: HAFC's dividends in 3 years are forecast to be well covered by earnings (26.9% payout ratio).

Next Steps


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


Average management tenure


Bonnie Lee (57 yo)





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 ($USD1.42M) is about average for companies of similar size in the US market ($USD1.64M).

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

Leadership Team

Bonita Lee
$ 982.2k
Romolo Santarosa
Senior EVP & CFO5.17yrsUS$944.11k0.12%
$ 450.3k
Min Park
Executive VP & Chief Credit Risk Officer of Hanmi Bank5.75yrsUS$340.68k0.055%
$ 205.8k
Matthew Fuhr
Executive VP & Chief Credit Administrative Officer of Hanmi Bank3.83yrsUS$410.58k0.081%
$ 304.6k
Patrick Carr
Chief Accounting Officer0.33yrno data0.013%
$ 49.6k
Vivian Kim
Senior VPno datano datano data
Greg Kim
Chief Administrative Officer & Executive VP of Hanmi Bank7.42yrsUS$500.45kno data
Anthony Kim
Executive VP & Chief Banking Officer of Hanmi Bankno datano data0.093%
$ 350.5k
Michael Du
Senior VP & Chief Risk Officer of Hanmi Bank1.17yrsno data0.016%
$ 62.0k


Average Tenure


Average Age

Experienced Management: HAFC's management team is considered experienced (3.8 years average tenure).

Board Members

Bonita Lee
$ 982.2k
Scott Diehl
Independent Director2.92yrsUS$123.71k0.043%
$ 162.9k
Michael Yang
Independent Director4.92yrsUS$111.31k0.049%
$ 185.0k
John Ahn
Independent Chairman1.67yrsUS$130.11k0.16%
$ 594.1k
Kiho Choi
Independent Director2.75yrsUS$113.21k0.061%
$ 231.1k
Harry Chung
Independent Director4.92yrsUS$122.26k0.062%
$ 234.5k
Thomas Williams
Independent Director4.58yrsUS$116.01k0.036%
$ 135.4k
David Rosenblum
Independent Vice Chairman2yrsUS$122.21k0.070%
$ 262.6k
Christie Chu
Independent Director5.83yrsUS$120.26k0.049%
$ 184.8k


Average Tenure


Average Age

Experienced Board: HAFC's board of directors are not considered experienced ( 2.9 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

Ownership Breakdown

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

Top Shareholders

Company Information

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

Key Information

  • Name: Hanmi Financial Corporation
  • Ticker: HAFC
  • Exchange: NasdaqGS
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$377.248m
  • Shares outstanding: 30.42m
  • Website:

Number of Employees


  • Hanmi Financial Corporation
  • 3660 Wilshire Boulevard
  • Penthouse Suite A
  • Los Angeles
  • California
  • 90010
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HAFCNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDJun 1994
HF7NDB (Deutsche Boerse AG)YesCommon SharesDEEURJun 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 ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 00:00
End of Day Share Price2021/01/21 00:00
Annual Earnings2019/12/31

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.