Hanmi Financial (NASDAQ:HAFC) Sets New 12-Month High – Here’s What Happened

Hanmi Financial Corporation (NASDAQ:HAFC) hit a new 52-week high on Wednesday . The company traded as high as $28.40 and last traded at $28.4610, with a volume of 43972 shares. The stock had previously closed at $28.13.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HAFC shares. Keefe, Bruyette & Woods lifted their target price on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday. Zacks Research raised shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.50.

Hanmi Financial Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $849.68 million, a P/E ratio of 11.87 and a beta of 0.75. The stock has a fifty day simple moving average of $25.96 and a 200-day simple moving average of $24.82.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.07. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%.The firm had revenue of $70.96 million for the quarter, compared to analyst estimates of $67.80 million. On average, equities analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Hanmi Financial’s dividend payout ratio is 45.19%.

Hedge Funds Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently made changes to their positions in HAFC. LSV Asset Management boosted its position in shares of Hanmi Financial by 3.0% during the 2nd quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock worth $34,983,000 after acquiring an additional 40,684 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Hanmi Financial by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after buying an additional 60,876 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hanmi Financial by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock worth $19,728,000 after buying an additional 21,157 shares during the last quarter. Rhino Investment Partners Inc boosted its stake in Hanmi Financial by 27.1% in the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after buying an additional 167,485 shares in the last quarter. Finally, Stieven Capital Advisors L.P. boosted its stake in Hanmi Financial by 4.3% in the third quarter. Stieven Capital Advisors L.P. now owns 634,676 shares of the bank’s stock valued at $15,670,000 after buying an additional 25,900 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.