Hanmi Financial (NASDAQ:HAFC) Stock Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Hanmi Financial Corporation (NASDAQ:HAFC)’s stock price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $30.74 and traded as high as $31.24. Hanmi Financial shares last traded at $31.08, with a volume of 166,650 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on HAFC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a research report on Monday, September 21st. DA Davidson increased their price objective on Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Hanmi Financial Price Performance

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 $904.03 million, a P/E ratio of 10.27 and a beta of 0.75. The company has a 50 day moving average price of $31.65 and a 200 day moving average price of $30.77.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $72.21 million for the quarter, compared to analysts’ expectations of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. On average, equities analysts predict that Hanmi Financial Corporation will post 3.19 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, August 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 3rd. Hanmi Financial’s dividend payout ratio (DPR) is currently 37.71%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Hanmi Financial by 62.6% in the 2nd quarter. Allworth Financial LP now owns 1,003 shares of the bank’s stock valued at $32,000 after acquiring an additional 386 shares during the period. Assetmark Inc. lifted its holdings in shares of Hanmi Financial by 35,033.3% during the 1st quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,051 shares during the last quarter. Nykredit A S acquired a new stake in shares of Hanmi Financial in the 2nd quarter worth $35,000. GAMMA Investing LLC boosted its position in shares of Hanmi Financial by 22.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock worth $81,000 after purchasing an additional 456 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Hanmi Financial by 85.4% in the 1st quarter. Royal Bank of Canada now owns 3,486 shares of the bank’s stock worth $92,000 after purchasing an additional 1,606 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

About Hanmi Financial

Hanmi Financial Corporation is the parent company of Hanmi Bank, a community-focused commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American communities and has expanded its customer base to include small and middle-market businesses, professionals, and individuals in diverse communities.

Hanmi Bank offers commercial and consumer banking products, including business loans, commercial real estate financing, Small Business Administration loans, commercial and residential mortgage lending, checking and savings accounts, certificates of deposit, and consumer loans.