Hanmi Financial Corporation (HAFC) Given Average Recommendation of “Hold” by Analysts
Hanmi Financial Corporation (NASDAQ:HAFC) has earned an average rating of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $31.00.
HAFC has been the subject of a number of recent research reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $31.00 target price on shares of Hanmi Financial Corporation in a report on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Hanmi Financial Corporation in a report on Thursday, April 20th. Zacks Investment Research downgraded shares of Hanmi Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Finally, FBR & Co reiterated an “outperform” rating and issued a $34.00 target price (down from $39.00) on shares of Hanmi Financial Corporation in a report on Wednesday, April 19th.
Shares of Hanmi Financial Corporation (HAFC) traded down 1.57% during midday trading on Friday, reaching $28.20. 101,417 shares of the company’s stock traded hands. Hanmi Financial Corporation has a one year low of $22.78 and a one year high of $35.85. The company has a 50-day moving average of $28.50 and a 200-day moving average of $30.08. The company has a market capitalization of $904.60 million, a price-to-earnings ratio of 16.40 and a beta of 0.79.
Hanmi Financial Corporation (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 18th. The bank reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $52.88 million during the quarter, compared to the consensus estimate of $50.85 million. Hanmi Financial Corporation had a net margin of 24.79% and a return on equity of 10.41%. During the same period in the previous year, the company posted $0.44 earnings per share. Equities research analysts anticipate that Hanmi Financial Corporation will post $1.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, July 28th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, July 26th. This is an increase from Hanmi Financial Corporation’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 2.98%. Hanmi Financial Corporation’s payout ratio is currently 48.28%.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Hanmi Financial Corporation by 48,878.9% in the first quarter. BlackRock Inc. now owns 3,983,942 shares of the bank’s stock worth $122,506,000 after buying an additional 3,975,808 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Hanmi Financial Corporation by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,913,681 shares of the bank’s stock valued at $58,846,000 after buying an additional 71,097 shares during the period. Vanguard Group Inc. increased its position in Hanmi Financial Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 1,661,914 shares of the bank’s stock valued at $51,104,000 after buying an additional 83,123 shares during the period. FMR LLC increased its position in Hanmi Financial Corporation by 1.4% in the first quarter. FMR LLC now owns 1,350,499 shares of the bank’s stock valued at $41,528,000 after buying an additional 18,000 shares during the period. Finally, LSV Asset Management increased its position in Hanmi Financial Corporation by 14.4% in the second quarter. LSV Asset Management now owns 1,086,094 shares of the bank’s stock valued at $30,899,000 after buying an additional 136,400 shares during the period. Institutional investors and hedge funds own 88.22% of the company’s stock.
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About Hanmi Financial Corporation
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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