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

Hanmi Financial Corporation (NASDAQ:HAFC) has received an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four 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 brokerages that have updated their coverage on the stock in the last year is $32.10.

A number of equities analysts recently weighed in on HAFC shares. Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th. Keefe, Bruyette & Woods upped their price objective on Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Brean Capital reiterated a “neutral” rating and issued a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Finally, Piper Sandler increased their target price on Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th.

Hanmi Financial Trading Down 2.1%

Shares of NASDAQ HAFC opened at $32.49 on Friday. Hanmi Financial has a twelve month low of $22.00 and a twelve 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 0.16. The stock has a market cap of $967.23 million, a price-to-earnings ratio of 12.12 and a beta of 0.72. The company’s fifty day moving average is $30.64 and its 200-day moving average is $28.42.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $134.94 million during the quarter, compared to the consensus estimate of $71.40 million. Equities research analysts predict that Hanmi Financial will post 3.16 EPS for the current year.

Hanmi Financial Dividend Announcement

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

Insiders Place Their Bets

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of Hanmi Financial stock in a transaction on Monday, June 8th. The stock was 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 $1,278,828.95. The trade was a 11.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the sale, the insider directly 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 SEC filing for this sale provides additional information. 2.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after purchasing an additional 45,511 shares in the last quarter. Rhino Investment Partners Inc raised its position in Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock worth $19,400,000 after purchasing an additional 167,485 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Hanmi Financial by 287.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 83,475 shares of the bank’s stock worth $2,257,000 after acquiring an additional 61,928 shares during the last quarter. American Century Companies Inc. raised its position in shares of Hanmi Financial by 7.0% during the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after acquiring an additional 60,876 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new position in shares of Hanmi Financial in the fourth quarter worth approximately $2,263,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

About Hanmi Financial

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.