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

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have earned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.50.

Several brokerages have recently commented on HAFC. Wall Street Zen upgraded Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Zacks Research cut shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Keefe, Bruyette & Woods boosted their price target on shares of Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday, December 29th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HAFC. EverSource Wealth Advisors LLC boosted its position in Hanmi Financial by 17.3% during the third quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock valued at $66,000 after purchasing an additional 394 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of Hanmi Financial by 4.0% in the 2nd quarter. Pallas Capital Advisors LLC now owns 12,957 shares of the bank’s stock valued at $320,000 after buying an additional 504 shares in the last quarter. Nisa Investment Advisors LLC grew its position 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 worth $100,000 after buying an additional 531 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Hanmi Financial by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock worth $908,000 after acquiring an additional 632 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in shares of Hanmi Financial by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,852 shares of the bank’s stock worth $1,181,000 after acquiring an additional 641 shares in the last quarter. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC opened at $27.90 on Friday. The firm’s 50 day simple moving average is $27.60 and its 200-day simple moving average is $25.74. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97. Hanmi Financial has a one year low of $19.25 and a one year high of $29.46. The firm has a market cap of $835.61 million, a PE ratio of 11.67 and a beta of 0.72.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The company had revenue of $70.96 million for the quarter, compared to analysts’ expectations of $67.80 million. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%. As a group, equities analysts predict that Hanmi Financial will post 2.6 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Tuesday, November 4th were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 4th. This represents a $1.08 dividend on an annualized basis and a yield of 3.9%. Hanmi Financial’s dividend payout ratio is currently 45.19%.

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.