Brokerages Set Hanmi Financial Corporation (NASDAQ:HAFC) PT at $31.33

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $31.3333.

A number of brokerages recently commented on HAFC. Zacks Research lowered Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Piper Sandler raised their target price on shares of Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Wall Street Zen downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $29.50 target price on shares of Hanmi Financial in a report on Thursday, January 29th.

Hanmi Financial Stock Performance

HAFC stock opened at $26.11 on Friday. The company has a 50 day moving average price of $27.57 and a 200 day moving average price of $26.50. Hanmi Financial has a fifty-two week low of $19.25 and a fifty-two week high of $30.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $781.99 million, a PE ratio of 10.40 and a beta of 0.77.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, January 27th. The bank reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). The firm had revenue of $71.20 million during the quarter, compared to analyst estimates of $71.40 million. Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. Analysts forecast that Hanmi Financial will post 2.6 EPS for the current year.

Hanmi Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 4.3%. Hanmi Financial’s payout ratio is currently 44.62%.

Hedge Funds Weigh In On Hanmi Financial

Several institutional investors have recently modified their holdings of HAFC. AlphaQuest LLC raised its position in shares of Hanmi Financial by 201.7% in the 3rd quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after acquiring an additional 1,198 shares during the period. Royal Bank of Canada increased its stake in Hanmi Financial by 30.5% in the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after purchasing an additional 439 shares in the last quarter. 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 worth $56,000 after purchasing an additional 1,764 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Hanmi Financial by 148.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after purchasing an additional 1,442 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Hanmi Financial by 15.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock valued at $100,000 after buying an additional 531 shares during the period. 88.66% of the stock is currently owned by institutional investors and hedge funds.

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.