Hanmi Financial Corporation (NASDAQ:HAFC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $28.50.

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 1st. Wall Street Zen raised shares of Hanmi Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research raised shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd.

Institutional Investors Weigh In On Hanmi Financial

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in Hanmi Financial by 17.3% in the third quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock valued at $66,000 after acquiring an additional 394 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Hanmi Financial by 4.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 12,957 shares of the bank’s stock valued at $320,000 after purchasing an additional 504 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Hanmi Financial by 15.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock worth $100,000 after purchasing an additional 531 shares in the last quarter. Cerity Partners LLC grew its stake in Hanmi Financial by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock worth $908,000 after buying an additional 632 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in Hanmi Financial by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,852 shares of the bank’s stock valued at $1,181,000 after buying an additional 641 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Stock Down 0.3%

Shares of NASDAQ:HAFC opened at $28.11 on Monday. The company has a market cap of $841.89 million, a price-to-earnings ratio of 11.76 and a beta of 0.75. Hanmi Financial has a 12 month low of $19.25 and a 12 month high of $28.53. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $26.16 and a 200 day moving average price of $24.92.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $70.96 million during the quarter, compared to the consensus estimate of $67.80 million. As a group, equities research analysts predict that Hanmi Financial will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

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

Hanmi Financial Company Profile

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.