Hanmi Financial (NASDAQ:HAFC) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Hanmi Financial Corporation (NASDAQ:HAFC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.55 and traded as high as $26.70. Hanmi Financial shares last traded at $26.36, with a volume of 242,475 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HAFC shares. DA Davidson restated a “neutral” rating and issued a $29.50 target price on shares of Hanmi Financial in a report on Thursday, January 29th. Piper Sandler upped their target price on Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. Zacks Research cut Hanmi Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Finally, Wall Street Zen lowered Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Hanmi Financial presently has a consensus rating of “Hold” and an average price target of $31.33.

Hanmi Financial Stock Up 0.4%

The stock has a market cap of $790.89 million, a PE ratio of 10.54 and a beta of 0.74. The business has a fifty day moving average of $27.46 and a 200-day moving average of $26.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. The firm had revenue of $71.20 million for the quarter, compared to the consensus estimate of $71.40 million. Equities research analysts anticipate that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th were issued a $0.28 dividend. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, February 9th. Hanmi Financial’s dividend payout ratio is presently 44.62%.

Hedge Funds Weigh In On Hanmi Financial

Large investors have recently made changes to their positions in the business. AlphaQuest LLC raised its holdings in shares of Hanmi Financial by 201.7% in the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock worth $44,000 after buying an additional 1,198 shares during the last quarter. Royal Bank of Canada increased its position in shares of Hanmi Financial by 30.5% in the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after acquiring an additional 439 shares during the period. EverSource Wealth Advisors LLC raised its stake in Hanmi Financial by 343.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock worth $56,000 after acquiring an additional 1,764 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Hanmi Financial by 148.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after acquiring an additional 1,442 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Hanmi Financial by 15.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock worth $100,000 after acquiring an additional 531 shares during the period. 88.66% of the stock is 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.