Hanmi Financial (NASDAQ:HAFC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a buy rating in a research note published on Saturday morning.

HAFC has been the topic of a number of other research reports. Weiss Ratings raised Hanmi Financial from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, November 10th. Piper Sandler cut their price target on Hanmi Financial from $28.50 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, July 24th. Zacks Research upgraded shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. DA Davidson boosted their price objective on shares of Hanmi Financial from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Hanmi Financial currently has an average rating of “Moderate Buy” and an average price target of $28.50.

Hanmi Financial Trading Up 0.5%

NASDAQ:HAFC traded up $0.13 on Friday, reaching $27.03. 106,065 shares of the company’s stock were exchanged, compared to its average volume of 176,704. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $809.68 million, a price-to-earnings ratio of 11.31 and a beta of 0.75. The business has a fifty day moving average of $25.43 and a 200-day moving average of $24.50. Hanmi Financial has a 52-week low of $19.25 and a 52-week high of $27.61.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. The firm had revenue of $70.96 million for the quarter, compared to analysts’ expectations of $67.80 million. As a group, analysts expect that Hanmi Financial will post 2.6 earnings per share for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Tuesday, November 4th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, November 4th. Hanmi Financial’s dividend payout ratio is 45.19%.

Institutional Trading of Hanmi Financial

Hedge funds have recently bought and sold shares of the company. Quarry LP raised its holdings in Hanmi Financial by 114.3% in the 1st quarter. Quarry LP now owns 1,830 shares of the bank’s stock valued at $41,000 after acquiring an additional 976 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Hanmi Financial during the 1st quarter worth about $42,000. AlphaQuest LLC lifted its position in Hanmi Financial by 201.7% during the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after buying an additional 1,198 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Hanmi Financial by 343.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock worth $56,000 after buying an additional 1,764 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Hanmi Financial by 148.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after acquiring an additional 1,442 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.