Hanmi Financial (HAFC) Rating Increased to Buy at ValuEngine
ValuEngine upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a buy rating in a report published on Wednesday.
Several other research firms have also weighed in on HAFC. BidaskClub upgraded shares of Hanmi Financial from a sell rating to a hold rating in a research report on Saturday, January 13th. Zacks Investment Research upgraded shares of Hanmi Financial from a sell rating to a hold rating in a research report on Tuesday, December 19th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $32.00 price target on shares of Hanmi Financial in a research report on Friday, December 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $33.00.
Hanmi Financial (NASDAQ:HAFC) opened at $31.80 on Wednesday. The firm has a market cap of $1,032.01, a PE ratio of 17.47, a P/E/G ratio of 1.72 and a beta of 0.64. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48. Hanmi Financial has a 1 year low of $25.45 and a 1 year high of $33.10.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, February 2nd. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.21. Hanmi Financial’s dividend payout ratio (DPR) is currently 56.47%.
In other Hanmi Financial news, Director John J. Ahn bought 3,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was purchased at an average price of $31.56 per share, for a total transaction of $94,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.91% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB bought a new position in Hanmi Financial during the fourth quarter worth about $201,000. Sterling Capital Management LLC bought a new position in Hanmi Financial during the fourth quarter worth about $1,003,000. MetLife Investment Advisors LLC bought a new position in Hanmi Financial during the fourth quarter worth about $476,000. Westwood Holdings Group Inc. boosted its position in Hanmi Financial by 4.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 828,835 shares of the bank’s stock worth $25,155,000 after purchasing an additional 36,485 shares during the period. Finally, Millennium Management LLC boosted its position in Hanmi Financial by 110.1% during the fourth quarter. Millennium Management LLC now owns 453,365 shares of the bank’s stock worth $13,760,000 after purchasing an additional 237,564 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.
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About Hanmi Financial
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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