Hanmi Financial (NASDAQ:HAFC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other research analysts have also weighed in on HAFC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday, December 1st. Zacks Research raised shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hanmi Financial has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Hanmi Financial Trading Up 0.6%

Shares of NASDAQ:HAFC opened at $28.27 on Friday. The company’s 50-day moving average price is $26.23 and its two-hundred day moving average price is $24.96. Hanmi Financial has a one year low of $19.25 and a one year high of $28.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $846.69 million, a PE ratio of 11.83 and a beta of 0.75.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%.The business had revenue of $70.96 million for the quarter, compared to the consensus estimate of $67.80 million. On average, equities analysts forecast that Hanmi Financial will post 2.6 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Tuesday, November 4th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.08 annualized dividend and a yield of 3.8%. Hanmi Financial’s dividend payout ratio (DPR) is currently 45.19%.

Hedge Funds Weigh In On Hanmi Financial

Large investors have recently modified their holdings of the stock. LSV Asset Management boosted its holdings in shares of Hanmi Financial by 3.0% during the 2nd quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock worth $34,983,000 after buying an additional 40,684 shares during the period. American Century Companies Inc. lifted its position in Hanmi Financial by 7.0% during the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after acquiring an additional 60,876 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Hanmi Financial by 2.7% during the second quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock worth $19,728,000 after acquiring an additional 21,157 shares during the period. Rhino Investment Partners Inc grew its position in shares of 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 purchasing an additional 167,485 shares during the last quarter. Finally, Stieven Capital Advisors L.P. grew its position in shares of Hanmi Financial by 4.3% in the third quarter. Stieven Capital Advisors L.P. now owns 634,676 shares of the bank’s stock valued at $15,670,000 after purchasing an additional 25,900 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.