Hanmi Financial Corporation (NASDAQ:HAFC) Stock Has Consensus Price Target of $33.00

Hanmi Financial Corporation (NASDAQ:HAFC) has earned an average recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $33.00.

Several equities research analysts have recently commented on the stock. DA Davidson lifted their price target on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Hanmi Financial in a research note on Monday, September 21st.

Institutional Trading of Hanmi Financial

A number of institutional investors have recently bought and sold shares of HAFC. Allworth Financial LP lifted its stake 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 purchasing an additional 386 shares during the period. Assetmark Inc. boosted its position in shares of Hanmi Financial by 35,033.3% in the 1st quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock worth $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 during the second quarter worth $35,000. GAMMA Investing LLC grew its stake in shares of Hanmi Financial by 22.5% during the second quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock worth $81,000 after purchasing an additional 456 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Hanmi Financial by 85.4% during the first 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 during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Shares of HAFC stock opened at $30.78 on Friday. The firm has a market cap of $912.63 million, a price-to-earnings ratio of 10.36 and a beta of 0.75. Hanmi Financial has a 12 month low of $22.85 and a 12 month high of $33.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $31.70 and a 200 day moving average price of $30.67.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company 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%. Research analysts expect that Hanmi Financial will post 3.19 EPS for the current year.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, August 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 3.6%. Hanmi Financial’s dividend payout ratio (DPR) is presently 37.71%.

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.