Hanmi Financial Corporation (NASDAQ:HAFC) Receives $33.00 Average Target Price from Brokerages

Hanmi Financial Corporation (NASDAQ:HAFC) has earned a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com 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 12-month target price among brokers that have issued ratings on the stock in the last year is $33.00.

HAFC has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Hanmi Financial in a research report on Wednesday, June 24th. Brean Capital reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. DA Davidson lifted their price objective on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday, May 28th. Finally, Piper Sandler boosted their target price on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, April 27th.

Insider Transactions at Hanmi Financial

In related news, insider Anthony I. Kim sold 5,333 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $30.73, for a total transaction of $163,883.09. Following the sale, the insider owned 41,615 shares of the company’s stock, valued at approximately $1,278,828.95. This represents a 11.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.12% of the company’s stock.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently modified their holdings of HAFC. Assetmark Inc. lifted its holdings in shares of Hanmi Financial by 35,033.3% in the first quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock worth $28,000 after buying an additional 1,051 shares in the last quarter. Nykredit A S purchased a new position in Hanmi Financial during the second quarter valued at approximately $35,000. Royal Bank of Canada increased its holdings in Hanmi Financial by 30.5% during the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock worth $51,000 after acquiring an additional 439 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock worth $56,000 after acquiring an additional 1,764 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Hanmi Financial by 148.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after acquiring an additional 1,442 shares during the period. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Trading Down 0.1%

Shares of Hanmi Financial stock opened at $31.11 on Friday. Hanmi Financial has a 52-week low of $22.85 and a 52-week high of $33.50. The stock’s 50-day simple moving average is $32.00 and its 200 day simple moving average is $29.43. The stock has a market capitalization of $922.38 million, a P/E ratio of 10.47 and a beta of 0.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The business had revenue of $72.21 million for the quarter, compared to the consensus estimate of $74.03 million. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. As a group, research 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. Investors of record on Monday, August 3rd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 3rd. Hanmi Financial’s payout ratio is presently 37.71%.

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.