Hanmi Financial Corporation (NASDAQ:HAFC) Receives Average Rating of “Hold” from Analysts

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been given an average rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.00.

HAFC has been the topic of several research reports. Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th. Brean Capital reiterated a “neutral” rating and set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Finally, DA Davidson increased their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd.

Hanmi Financial Price Performance

HAFC stock opened at $32.16 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $953.54 million, a P/E ratio of 10.83 and a beta of 0.72. The business has a 50 day simple moving average of $31.84 and a 200-day simple moving average of $29.96. Hanmi Financial has a twelve month low of $22.85 and a twelve month high of $33.50.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. The business had revenue of $72.21 million for the quarter, compared to analysts’ expectations of $74.03 million. As a group, equities analysts anticipate that Hanmi Financial will post 3.18 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.12 annualized dividend and a yield of 3.5%. Hanmi Financial’s dividend payout ratio is currently 37.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Hanmi Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after purchasing an additional 45,511 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hanmi Financial by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock worth $46,416,000 after purchasing an additional 56,102 shares during the period. Rhino Investment Partners Inc grew its position in Hanmi Financial by 4.9% in the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock valued at $23,248,000 after buying an additional 41,008 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Hanmi Financial in the 2nd quarter valued at $12,570,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Hanmi Financial by 26.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 413,571 shares of the bank’s stock valued at $10,902,000 after buying an additional 87,655 shares during the period. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Company Profile

Hanmi Financial Corporation is the holding company for Hanmi Bank, a community bank that serves small and middle-market businesses, individuals and professionals. Founded in 1982 and headquartered in Los Angeles, California, the bank has historically focused on Korean American and other diverse communities in the United States.

Hanmi Bank provides commercial and consumer banking services, including commercial real estate loans, commercial and industrial lending, Small Business Administration loans, residential mortgage lending, consumer loans and deposit products.