Hanmi Financial Corporation (NASDAQ:HAFC) Given Consensus Rating of “Hold” by Analysts

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been assigned an average rating of “Hold” from the five brokerages 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 price objective among brokers that have issued ratings on the stock in the last year is $31.3333.

A number of brokerages recently commented on HAFC. Wall Street Zen downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. Zacks Research lowered Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. DA Davidson restated a “neutral” rating and set a $29.50 price objective on shares of Hanmi Financial in a research note on Thursday, January 29th. Finally, Piper Sandler raised their price objective on Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in Hanmi Financial in the third quarter valued at approximately $7,191,000. Hillsdale Investment Management Inc. acquired a new position in shares of Hanmi Financial during the fourth quarter worth $7,276,000. Goldman Sachs Group Inc. lifted its holdings in shares of Hanmi Financial by 30.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock valued at $21,260,000 after purchasing an additional 181,509 shares during the last quarter. Rhino Investment Partners Inc lifted its holdings in shares of Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after purchasing an additional 167,485 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Hanmi Financial by 237.1% in the 4th quarter. Millennium Management LLC now owns 178,125 shares of the bank’s stock worth $4,815,000 after purchasing an additional 125,292 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Stock Down 0.8%

Shares of Hanmi Financial stock opened at $25.41 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $759.50 million, a price-to-earnings ratio of 10.12 and a beta of 0.74. The firm’s 50-day moving average is $27.13 and its two-hundred day moving average is $26.64. Hanmi Financial has a 1 year low of $19.25 and a 1 year high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. The business had revenue of $71.20 million during the quarter, compared to the consensus estimate of $71.40 million. As a group, research analysts expect that Hanmi Financial will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 4.4%. Hanmi Financial’s payout ratio is currently 44.62%.

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.