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

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $32.10.

HAFC has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Piper Sandler upped their target price on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, 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.

Insider Activity at Hanmi Financial

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total value of $101,739.00. Following the completion of the transaction, the insider owned 34,002 shares of the company’s stock, valued at $1,048,281.66. This represents a 8.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony I. Kim sold 5,333 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the transaction, the insider directly owned 41,615 shares of the company’s stock, valued at approximately $1,278,828.95. This trade represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On Hanmi Financial

Several large investors have recently added to or reduced their stakes in HAFC. Vanguard Group Inc. raised its stake in shares of Hanmi Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock valued at $59,513,000 after buying an additional 45,511 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Hanmi Financial by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock valued at $46,416,000 after buying an additional 56,102 shares in the last quarter. State Street Corp raised its stake in shares of Hanmi Financial by 0.3% in the 4th quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock valued at $36,487,000 after buying an additional 4,651 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Hanmi Financial by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock valued at $23,033,000 after buying an additional 60,876 shares in the last quarter. Finally, Rhino Investment Partners Inc raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Shares of NASDAQ:HAFC opened at $32.47 on Friday. Hanmi Financial has a fifty-two week low of $22.00 and a fifty-two week high of $32.52. The business has a 50-day moving average of $30.16 and a two-hundred day moving average of $28.28. The stock has a market capitalization of $966.63 million, a P/E ratio of 12.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The company had revenue of $134.95 million during the quarter, compared to analysts’ expectations of $71.40 million. On average, equities research analysts predict that Hanmi Financial will post 3.16 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, May 4th. Hanmi Financial’s dividend payout ratio is presently 41.79%.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.