Brokerages Set Hanmi Financial Corporation (NASDAQ:HAFC) Target Price at $32.10

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com 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 objective among brokers that have updated their coverage on the stock in the last year is $33.00.

Several analysts have recently issued reports on the stock. Capital One Financial set a $32.00 price target on shares of Hanmi Financial in a research report on Thursday, May 28th. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th. Piper Sandler lifted their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Finally, DA Davidson increased their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a report on Thursday.

Insider Activity

In other news, insider Anthony I. Kim sold 5,333 shares of the 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 sale, the insider directly owned 41,615 shares in the company, valued at approximately $1,278,828.95. This trade represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.12% of the company’s stock.

Institutional Investors Weigh In On Hanmi Financial

A number of hedge funds have recently bought and sold shares of HAFC. Assetmark Inc. boosted its stake 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 valued at $28,000 after buying an additional 1,051 shares during the period. Royal Bank of Canada increased its stake in shares of Hanmi Financial by 30.5% during the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock worth $51,000 after buying an additional 439 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Hanmi Financial by 343.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,764 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Hanmi Financial by 148.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after acquiring an additional 1,442 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Hanmi Financial by 22.5% in the second quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock worth $81,000 after acquiring an additional 456 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

HAFC stock opened at $31.64 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $941.92 million, a PE ratio of 10.65 and a beta of 0.72. Hanmi Financial has a 12-month low of $22.00 and a 12-month high of $33.50. The business’s fifty day moving average price is $31.42 and its 200 day moving average price is $28.92.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $72.21 million during the quarter, compared to analysts’ expectations of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. On average, sell-side analysts anticipate that Hanmi Financial will post 3.17 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.5%. Hanmi Financial’s dividend payout ratio is currently 37.71%.

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.