Hanmi Financial (NASDAQ:HAFC) Releases Earnings Results, Misses Expectations By $0.01 EPS

Hanmi Financial (NASDAQ:HAFC) posted its quarterly earnings data on Tuesday. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01), FiscalAI reports. The company had revenue of $76.60 million for the quarter, compared to analyst estimates of $75.13 million.

Here are the key takeaways from Hanmi Financial’s conference call:

• Third-quarter net income rose to $23.7 million, or $0.80 per diluted share, while pre-provision net revenue increased 10.8% sequentially. Net interest income grew 5.8%, the net interest margin expanded 8 basis points to 3.40%, and the efficiency ratio improved to 52%.
• Deposits increased 1.4% sequentially, with core deposits up 1.9% and non-interest-bearing deposits stable at 30% of total deposits. Corporate Korea deposits grew 12% to approximately $1.3 billion, or 19% of total deposits, highlighting a key growth initiative.
• Loan production surged 46.2% sequentially to $544 million, led by C&I, CRE, and residential lending, but elevated payoffs kept overall loan balances roughly flat. Management expects low-single-digit loan growth in 2026 and low- to mid-single-digit growth in 2027, assuming production remains strong.
• Credit loss expense increased to $4.5 million, including a $3.2 million partial charge-off on a previously identified CRE loan; management also downgraded two current New York multifamily relationships following rent-control changes. While delinquent and nonperforming loans remained low, these actions indicate ongoing localized credit risks.
• Capital remained strong, with tangible common equity to tangible assets of 9.93% and a bank common equity tier 1 ratio of 13.28%. Hanmi returned 55.6% of third-quarter net income to shareholders and expects to maintain a similar share-repurchase pace in the fourth quarter.

Hanmi Financial Trading Up 0.7%

Shares of Hanmi Financial stock opened at $32.41 on Wednesday. Hanmi Financial has a 52 week low of $24.54 and a 52 week high of $33.50. The stock has a market cap of $960.92 million, a PE ratio of 10.91 and a beta of 0.75. The company’s 50-day moving average price is $31.53 and its two-hundred day moving average price is $29.80.

Hanmi Financial News Summary

Here are the key news stories impacting Hanmi Financial this week:

• Positive Sentiment: Third-quarter net income increased to $23.7 million, or $0.80 per diluted share, from $23.5 million, or $0.79 per share, in the second quarter. Earnings also improved from $0.73 per share a year earlier, indicating continued year-over-year profit growth. Hanmi Reports 2026 Third Quarter Results
• Positive Sentiment: Revenue of $76.60 million exceeded the $75.13 million analyst consensus, providing a favorable operating performance signal despite the earnings-per-share shortfall. Hanmi Financial Third-Quarter Earnings
• Positive Sentiment: Management expects low- to mid-single-digit loan growth in 2027 as loan payoffs ease. That outlook suggests improving loan-demand trends and could support future net interest income and earnings growth. Hanmi Signals 2027 Loan Growth
• Neutral Sentiment: The quarter’s $0.80 earnings per share missed the $0.81 consensus estimate by one cent, although the result was above the year-ago figure. This small miss may limit the positive reaction to the revenue and profit growth. Hanmi Financial Third-Quarter Earnings Miss
• Negative Sentiment: Management commentary continued to highlight credit headwinds, keeping asset quality and potential loan-loss costs as risks for investors even as growth prospects improve. Hanmi Financial Profit Growth Amid Credit Headwinds

Analyst Ratings Changes

Several equities analysts have commented on HAFC shares. DA Davidson raised their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.00.

Hanmi Financial Company Profile

Hanmi Financial Corporation is the holding company for Hanmi Bank, a commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American and other small-business communities and has developed into a full-service regional bank serving individuals, businesses, and professional organizations.

Hanmi Bank offers commercial and consumer deposit accounts, business and personal lending, commercial real estate financing, small business loans, construction loans, and trade finance services.