Hanmi Financial Corporation (NASDAQ:HAFC) Given Average Rating of “Hold” by Analysts

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $33.00.

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

Insider Buying and Selling

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the transaction, the insider owned 41,615 shares in the company, valued at approximately $1,278,828.95. This represents a 11.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.12% of the company’s stock.

Institutional Investors Weigh In On Hanmi Financial

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Hanmi Financial by 8.1% in the 1st quarter. Royal Bank of Canada now owns 16,441 shares of the bank’s stock worth $372,000 after buying an additional 1,234 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Hanmi Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock valued at $405,000 after acquiring an additional 780 shares during the period. Empowered Funds LLC raised its stake in Hanmi Financial by 5.4% during the 1st quarter. Empowered Funds LLC now owns 114,624 shares of the bank’s stock valued at $2,597,000 after acquiring an additional 5,920 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Hanmi Financial by 26.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,708 shares of the bank’s stock valued at $1,942,000 after acquiring an additional 18,112 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Hanmi Financial by 352.6% during the 1st quarter. Jane Street Group LLC now owns 44,723 shares of the bank’s stock worth $1,013,000 after acquiring an additional 34,841 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Stock Performance

Shares of HAFC stock opened at $32.44 on Friday. The company has a market cap of $961.85 million, a P/E ratio of 10.92 and a beta of 0.73. The business has a 50 day moving average of $31.95 and a two-hundred day moving average of $29.27. Hanmi Financial has a 52 week low of $22.85 and a 52 week high of $33.50. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.25.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $72.21 million for 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%. As a group, analysts anticipate that Hanmi Financial will post 3.18 EPS for the current year.

Hanmi Financial Announces Dividend

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