Shares of Hanmi Financial Corporation (NASDAQ:HAFC – Get Free Report) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $33.58 and last traded at $33.5710, with a volume of 38,715 shares trading hands. The stock had previously closed at $32.55.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on HAFC. DA Davidson raised their target price on Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Hanmi Financial in a research report on Monday, September 21st. Finally, Piper Sandler increased their price target on Hanmi Financial from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.40.
View Our Latest Analysis on Hanmi Financial
Hanmi Financial Stock Up 2.0%
The firm has a market cap of $999.21 million, a price-to-earnings ratio of 11.09 and a beta of 0.72. The firm has a 50 day moving average of $31.69 and a 200 day moving average of $29.93. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.09.
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last issued its earnings results on Tuesday, October 27th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). The company had revenue of $76.60 million for the quarter, compared to the consensus estimate of $75.13 million. Hanmi Financial had a return on equity of 11.30% and a net margin of 20.06%. As a group, sell-side analysts predict that Hanmi Financial Corporation will post 3.20 earnings per share for the current year.
Hanmi Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 9th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 9th. Hanmi Financial’s dividend payout ratio is presently 36.84%.
Institutional Trading of Hanmi Financial
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Hanmi Financial in the second quarter valued at about $12,570,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Hanmi Financial by 26.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 413,571 shares of the bank’s stock worth $10,902,000 after purchasing an additional 87,655 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Hanmi Financial by 47.2% during the 1st quarter. Principal Financial Group Inc. now owns 208,398 shares of the bank’s stock worth $5,493,000 after purchasing an additional 66,833 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Hanmi Financial during the 1st quarter worth approximately $1,615,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Hanmi Financial by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock worth $46,416,000 after purchasing an additional 56,102 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.
About Hanmi Financial
Hanmi Financial Corporation is the holding company for Hanmi Bank, a commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American and other small-business communities and has developed into a full-service regional bank serving individuals, businesses, and professional organizations.
Hanmi Bank offers commercial and consumer deposit accounts, business and personal lending, commercial real estate financing, small business loans, construction loans, and trade finance services.
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