Hanmi Financial Corporation (HAFC) Receives $32.50 Average Price Target from Brokerages
Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.50.
HAFC has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Hanmi Financial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. Piper Jaffray Companies restated a “hold” rating and set a $31.00 price target on shares of Hanmi Financial Corporation in a research report on Wednesday, July 12th. Finally, BidaskClub lowered shares of Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th.
Shares of Hanmi Financial Corporation (NASDAQ HAFC) traded up 0.94% during midday trading on Tuesday, hitting $26.95. The company’s stock had a trading volume of 41,876 shares. The stock’s 50 day moving average is $27.83 and its 200-day moving average is $29.22. Hanmi Financial Corporation has a 52-week low of $22.76 and a 52-week high of $35.85. The firm has a market cap of $864.74 million, a P/E ratio of 15.67 and a beta of 0.79.
Hanmi Financial Corporation (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $52.88 million during the quarter, compared to analyst estimates of $50.85 million. Hanmi Financial Corporation had a net margin of 24.79% and a return on equity of 10.41%. During the same period in the previous year, the business earned $0.44 EPS. Equities analysts predict that Hanmi Financial Corporation will post $1.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Friday, July 28th were given a dividend of $0.21 per share. This is a positive change from Hanmi Financial Corporation’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Wednesday, July 26th. Hanmi Financial Corporation’s payout ratio is 48.28%.
A number of hedge funds and other institutional investors have recently made changes to their positions in HAFC. Trexquant Investment LP bought a new position in shares of Hanmi Financial Corporation during the first quarter valued at about $339,000. Wells Fargo & Company MN raised its position in shares of Hanmi Financial Corporation by 0.7% in the first quarter. Wells Fargo & Company MN now owns 208,259 shares of the bank’s stock valued at $6,404,000 after buying an additional 1,550 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Hanmi Financial Corporation by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the bank’s stock valued at $406,000 after buying an additional 200 shares during the period. Teachers Advisors LLC raised its position in shares of Hanmi Financial Corporation by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 56,707 shares of the bank’s stock valued at $1,979,000 after buying an additional 1,552 shares during the period. Finally, Norges Bank bought a new position in shares of Hanmi Financial Corporation during the fourth quarter valued at about $995,000. Institutional investors own 88.39% of the company’s stock.
About Hanmi Financial Corporation
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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