Hanmi Financial (NASDAQ:HAFC) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Hanmi Financial Corporation (NASDAQ:HAFC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.47 and traded as high as $31.54. Hanmi Financial shares last traded at $31.22, with a volume of 173,695 shares traded.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a research report on Thursday, May 28th. DA Davidson boosted their target price on Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th. Finally, Brean Capital reissued a “neutral” rating and issued a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.00.

Hanmi Financial Price Performance

The firm has a market capitalization of $920.04 million, a P/E ratio of 10.45 and a beta of 0.73. The company has a fifty day moving average of $31.99 and a 200 day moving average of $29.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The company had revenue of $72.21 million during the quarter, compared to analysts’ expectations of $74.03 million. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. Sell-side analysts predict that Hanmi Financial Corporation will post 3.18 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, August 3rd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.12 annualized dividend and a yield of 3.6%. Hanmi Financial’s dividend payout ratio (DPR) is currently 37.71%.

Insider Transactions at Hanmi Financial

In other news, insider Anthony I. Kim sold 5,333 shares of Hanmi Financial stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the sale, the insider owned 41,615 shares in the company, valued at $1,278,828.95. The trade was a 11.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On Hanmi Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. increased its holdings in shares of Hanmi Financial by 35,033.3% in the first quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock worth $28,000 after buying an additional 1,051 shares during the period. Nykredit A S purchased a new stake in shares of Hanmi Financial during the second quarter worth about $35,000. Royal Bank of Canada increased its holdings in Hanmi Financial by 30.5% during the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after purchasing an additional 439 shares during the period. EverSource Wealth Advisors LLC raised its position in Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Hanmi Financial by 148.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after buying an additional 1,442 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.