Analysts Set Hanmi Financial Corporation (NASDAQ:HAFC) PT at $28.50

Hanmi Financial Corporation (NASDAQ:HAFC) has earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.50.

HAFC has been the subject of a number of analyst reports. DA Davidson upped their price objective 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. Wall Street Zen raised Hanmi Financial from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods raised their price objective on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Weiss Ratings upgraded Hanmi Financial from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, November 10th. Finally, Zacks Research upgraded Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HAFC. Assenagon Asset Management S.A. acquired a new stake in Hanmi Financial in the 3rd quarter worth about $7,191,000. LSV Asset Management boosted its stake in shares of 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 acquiring an additional 193,610 shares during the last quarter. Rhino Investment Partners Inc increased its position in shares of Hanmi Financial by 27.1% during the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock worth $19,400,000 after purchasing an additional 167,485 shares in the last quarter. Nuveen LLC acquired a new position in Hanmi Financial in the 1st quarter valued at $2,925,000. Finally, First Trust Advisors LP lifted its holdings in Hanmi Financial by 240.8% in the 3rd quarter. First Trust Advisors LP now owns 117,241 shares of the bank’s stock valued at $2,895,000 after purchasing an additional 82,835 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

HAFC stock opened at $27.03 on Thursday. Hanmi Financial has a 12-month low of $19.25 and a 12-month high of $27.61. The stock has a market capitalization of $809.68 million, a price-to-earnings ratio of 11.31 and a beta of 0.75. The firm’s 50-day moving average price is $25.43 and its two-hundred day moving average price is $24.50. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $70.96 million for the quarter, compared to analysts’ expectations of $67.80 million. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. As a group, equities analysts predict that Hanmi Financial will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Tuesday, November 4th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, November 4th. Hanmi Financial’s dividend payout ratio (DPR) is presently 45.19%.

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.