BidaskClub cut shares of Hanmi Financial Corporation (NASDAQ:HAFC) from a sell rating to a strong sell rating in a report released on Monday morning.

HAFC has been the subject of a number of other research reports. FBR & Co reissued an outperform rating and set a $34.00 price objective (down previously from $39.00) on shares of Hanmi Financial Corporation in a research report on Wednesday, April 19th. Zacks Investment Research raised Hanmi Financial Corporation from a sell rating to a hold rating in a research report on Tuesday, June 20th. Keefe, Bruyette & Woods reissued a hold rating on shares of Hanmi Financial Corporation in a research report on Thursday, April 20th. Finally, Piper Jaffray Companies reduced their price objective on Hanmi Financial Corporation from $34.00 to $32.00 and set a neutral rating for the company in a research report on Monday, April 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $32.00.

Hanmi Financial Corporation (NASDAQ HAFC) opened at 27.30 on Monday. The stock has a 50 day moving average price of $28.39 and a 200-day moving average price of $29.68. The stock has a market capitalization of $875.73 million, a P/E ratio of 15.87 and a beta of 0.79. Hanmi Financial Corporation has a 12-month low of $22.76 and a 12-month high of $35.85.

Hanmi Financial Corporation (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, July 18th. The bank reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $52.88 million during the quarter, compared to analysts’ expectations of $50.85 million. Hanmi Financial Corporation had a return on equity of 10.41% and a net margin of 24.79%. During the same quarter last year, the firm earned $0.44 earnings per share. Equities research analysts expect that Hanmi Financial Corporation will post $1.82 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Friday, July 28th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from Hanmi Financial Corporation’s previous quarterly dividend of $0.19. Hanmi Financial Corporation’s payout ratio is currently 48.28%.

Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in shares of Hanmi Financial Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,081 shares of the bank’s stock worth $429,000 after buying an additional 39 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Hanmi Financial Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 3,570 shares of the bank’s stock worth $109,000 after buying an additional 80 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Hanmi Financial Corporation by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the bank’s stock worth $406,000 after buying an additional 200 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Hanmi Financial Corporation by 1.1% in the second quarter. Texas Permanent School Fund now owns 23,655 shares of the bank’s stock worth $673,000 after buying an additional 250 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Hanmi Financial Corporation by 1.8% in the first quarter. Arizona State Retirement System now owns 16,866 shares of the bank’s stock worth $519,000 after buying an additional 300 shares in the last quarter. 87.14% of the stock is owned by institutional investors.

Hanmi Financial Corporation Company Profile

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.

Analyst Recommendations for Hanmi Financial Corporation (NASDAQ:HAFC)

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