Hanmi Financial Corp. (HAFC) Receives $27.00 Consensus Price Target from Brokerages
Hanmi Financial Corp. (NASDAQ:HAFC) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $27.00.
A number of analysts recently issued reports on HAFC shares. FBR & Co restated a “buy” rating on shares of Hanmi Financial Corp. in a report on Wednesday, November 2nd. Zacks Investment Research upgraded shares of Hanmi Financial Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. FIG Partners downgraded shares of Hanmi Financial Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 19th. Finally, Raymond James Financial Inc. upgraded shares of Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Thursday, August 25th.
In related news, Director Joon Hyung Lee sold 2,412 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $25.33, for a total transaction of $61,095.96. Following the completion of the transaction, the director now owns 270,285 shares of the company’s stock, valued at $6,846,319.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.91% of the company’s stock.
A number of institutional investors have recently modified their holdings of HAFC. Teacher Retirement System of Texas boosted its position in shares of Hanmi Financial Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,475 shares of the company’s stock valued at $105,000 after buying an additional 551 shares in the last quarter. Societe Generale bought a new stake in shares of Hanmi Financial Corp. during the second quarter valued at about $106,000. SG Americas Securities LLC bought a new stake in shares of Hanmi Financial Corp. during the second quarter valued at about $106,000. Mason Street Advisors LLC bought a new stake in shares of Hanmi Financial Corp. during the second quarter valued at about $148,000. Finally, BlackRock Inc. raised its stake in shares of Hanmi Financial Corp. by 144.6% in the second quarter. BlackRock Inc. now owns 7,700 shares of the company’s stock valued at $180,000 after buying an additional 4,552 shares during the last quarter. 87.64% of the stock is owned by institutional investors.
Shares of Hanmi Financial Corp. (NASDAQ:HAFC) opened at 30.75 on Friday. Hanmi Financial Corp. has a one year low of $18.92 and a one year high of $31.15. The stock’s 50 day moving average is $26.11 and its 200-day moving average is $24.80. The company has a market cap of $981.76 million, a P/E ratio of 17.37 and a beta of 0.96.
Hanmi Financial Corp. (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.03. Hanmi Financial Corp. had a return on equity of 11.07% and a net margin of 27.10%. During the same quarter in the previous year, the company posted $0.44 EPS. Equities research analysts forecast that Hanmi Financial Corp. will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Tuesday, November 8th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.76 annualized dividend and a yield of 2.47%. Hanmi Financial Corp.’s dividend payout ratio is currently 42.94%.
About Hanmi Financial Corp.
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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