Hanmi Financial Corporation Stock Downgraded (HAFC)
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- Powered by its strong earnings growth of 75.00% and other important driving factors, this stock has surged by 53.06% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, our hold rating indicates that we do not recommend additional investment in this stock despite its gains in the past year.
- HANMI FINANCIAL CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, HANMI FINANCIAL CORP turned its bottom line around by earning $1.42 versus -$12.96 in the prior year. This year, the market expects an improvement in earnings ($2.87 versus $1.42).
- Despite the weak revenue results, HAFC has outperformed against the industry average of 21.9%. Since the same quarter one year prior, revenues slightly dropped by 4.6%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
- Net operating cash flow has decreased to $15.08 million or 26.19% when compared to the same quarter last year. Despite a decrease in cash flow HANMI FINANCIAL CORP is still fairing well by exceeding its industry average cash flow growth rate of -68.95%.
-- Written by a member of TheStreet Ratings Staff
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