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

Hanmi Financial Corporation (NASDAQ:HAFC) has received a consensus recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $32.10.

Several brokerages have recently commented on HAFC. Brean Capital reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods upped their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Piper Sandler upped their price objective 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, Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday, May 28th.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC opened at $32.40 on Friday. The company has a market cap of $964.55 million, a price-to-earnings ratio of 12.09 and a beta of 0.72. The company has a 50-day moving average price of $30.45 and a 200-day moving average price of $28.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. Hanmi Financial has a 12 month low of $22.00 and a 12 month high of $32.77.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The firm had revenue of $134.95 million during the quarter, compared to the consensus estimate of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. As a group, equities analysts anticipate that Hanmi Financial will post 3.16 EPS for the current year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were given a dividend of $0.28 per share. The ex-dividend date was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. Hanmi Financial’s payout ratio is currently 41.79%.

Insider Activity

In related news, insider Matthew Fuhr sold 3,300 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the transaction, the insider owned 34,002 shares in the company, valued at $1,048,281.66. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony I. Kim sold 5,333 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $30.73, for a total transaction of $163,883.09. Following the transaction, the insider owned 41,615 shares in the company, valued at $1,278,828.95. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. 2.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position 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 valued at $59,513,000 after buying an additional 45,511 shares during the period. Dimensional Fund Advisors LP increased its position 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 valued at $46,416,000 after buying an additional 56,102 shares during the period. State Street Corp increased its position in shares of Hanmi Financial by 0.3% during the fourth 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 during the period. American Century Companies Inc. grew its holdings in Hanmi Financial by 7.0% in the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after purchasing an additional 60,876 shares during the period. Finally, Rhino Investment Partners Inc grew its holdings in Hanmi Financial by 4.9% in the first quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock worth $23,248,000 after purchasing an additional 41,008 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.