Hanmi Financial Corporation (NASDAQ:HAFC) Receives Consensus Rating of “Hold” from Analysts

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.1667.

Several research firms have commented on HAFC. DA Davidson reissued a “neutral” rating and issued a $29.50 price objective on shares of Hanmi Financial in a research report on Thursday, January 29th. Keefe, Bruyette & Woods lifted their target price on Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Wall Street Zen lowered Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Finally, Piper Sandler lifted their target price on Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th.

Hanmi Financial Trading Down 1.1%

NASDAQ:HAFC opened at $29.05 on Thursday. The business’s 50-day moving average is $27.48 and its two-hundred day moving average is $27.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. Hanmi Financial has a 12 month low of $21.84 and a 12 month high of $31.33. The firm has a market capitalization of $864.82 million, a PE ratio of 10.84 and a beta of 0.73.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The company had revenue of $134.95 million for the quarter, compared to analyst estimates of $71.40 million. Research analysts predict that Hanmi Financial will post 3.16 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, May 4th. Hanmi Financial’s payout ratio is presently 41.79%.

Insider Activity

In other news, insider Matthew Fuhr sold 3,300 shares of Hanmi Financial stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the sale, the insider directly owned 34,002 shares of the company’s stock, valued at approximately $1,048,281.66. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.12% of the company’s stock.

Institutional Trading of Hanmi Financial

Several hedge funds and other institutional investors have recently bought and sold shares of HAFC. Hillsdale Investment Management Inc. bought a new stake in Hanmi Financial in the fourth quarter valued at about $7,276,000. Goldman Sachs Group Inc. increased its holdings in Hanmi Financial by 30.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock valued at $21,260,000 after buying an additional 181,509 shares during the last quarter. Rhino Investment Partners Inc increased its holdings 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 during the last quarter. Millennium Management LLC increased its holdings in Hanmi Financial by 237.1% in the fourth quarter. Millennium Management LLC now owns 178,125 shares of the bank’s stock valued at $4,815,000 after buying an additional 125,292 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Hanmi Financial by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 322,852 shares of the bank’s stock valued at $8,727,000 after buying an additional 103,300 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

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.