Hanmi Financial (NASDAQ:HAFC) Upgraded at Zacks Research

Zacks Research upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

HAFC has been the topic of a number of other research reports. Piper Sandler cut their target price on shares of Hanmi Financial from $28.50 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. DA Davidson boosted their price target on shares of Hanmi Financial from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Hanmi Financial from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Hanmi Financial Stock Performance

NASDAQ HAFC opened at $24.88 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97. Hanmi Financial has a 12 month low of $17.92 and a 12 month high of $27.59. The company’s fifty day moving average price is $24.34 and its two-hundred day moving average price is $23.52. The company has a market capitalization of $749.63 million, a price-to-earnings ratio of 11.57 and a beta of 0.78.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.12). Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.The company had revenue of $65.21 million for the quarter, compared to the consensus estimate of $65.70 million. During the same period in the previous year, the business posted $0.48 EPS. As a group, research analysts predict that Hanmi Financial will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, August 4th were issued a $0.27 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.3%. Hanmi Financial’s dividend payout ratio is currently 50.23%.

Hedge Funds Weigh In On Hanmi Financial

Hedge funds have recently modified their holdings of the stock. LSV Asset Management increased its holdings in Hanmi Financial by 16.4% in the first quarter. LSV Asset Management now owns 1,376,791 shares of the bank’s stock worth $31,198,000 after buying an additional 193,610 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hanmi Financial in the fourth quarter worth about $3,108,000. Nuveen LLC bought a new position in Hanmi Financial in the 1st quarter worth approximately $2,925,000. Segall Bryant & Hamill LLC bought a new position in Hanmi Financial during the first quarter worth $1,826,000. Finally, American Century Companies Inc. increased its holdings in shares of Hanmi Financial by 10.1% during the 1st quarter. American Century Companies Inc. now owns 818,831 shares of the bank’s stock worth $18,555,000 after purchasing an additional 75,365 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

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.