BidaskClub upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a buy rating in a research report released on Wednesday.

Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Hanmi Financial from a hold rating to a buy rating in a report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Hanmi Financial from a buy rating to a hold rating in a report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $32.00 price target on shares of Hanmi Financial in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Hanmi Financial currently has a consensus rating of Buy and a consensus price target of $33.00.

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HAFC stock opened at $31.65 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1,027.14, a P/E ratio of 18.62, a P/E/G ratio of 1.71 and a beta of 0.64. Hanmi Financial has a 1-year low of $25.45 and a 1-year high of $33.10.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. The company had revenue of $54.03 million for the quarter, compared to the consensus estimate of $54.53 million. Hanmi Financial had a net margin of 22.52% and a return on equity of 10.59%. analysts expect that Hanmi Financial will post 2.31 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 5th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.96 annualized dividend and a yield of 3.03%. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.21. Hanmi Financial’s payout ratio is currently 56.47%.

In other news, Director John J. Ahn purchased 3,000 shares of the stock in a transaction on Friday, January 26th. The shares were acquired at an average price of $31.56 per share, with a total value of $94,680.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.66% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB purchased a new position in Hanmi Financial during the fourth quarter valued at approximately $201,000. Piedmont Investment Advisors LLC purchased a new position in Hanmi Financial during the third quarter valued at approximately $218,000. Victory Capital Management Inc. lifted its holdings in Hanmi Financial by 42.6% during the third quarter. Victory Capital Management Inc. now owns 7,291 shares of the bank’s stock valued at $226,000 after purchasing an additional 2,179 shares in the last quarter. Aperio Group LLC purchased a new position in Hanmi Financial during the third quarter valued at approximately $233,000. Finally, Janney Capital Management LLC purchased a new position in Hanmi Financial during the third quarter valued at approximately $258,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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About Hanmi Financial

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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