Hanmi Financial (NASDAQ:HAFC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Hanmi Financial Corporation (NASDAQ:HAFC)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $26.10 and traded as high as $28.43. Hanmi Financial shares last traded at $28.09, with a volume of 230,576 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HAFC shares. Piper Sandler boosted their target price on Hanmi Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday. Wall Street Zen lowered shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Zacks Research downgraded shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Keefe, Bruyette & Woods increased their price target on shares of Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Finally, DA Davidson restated a “neutral” rating and set a $29.50 price objective on shares of Hanmi Financial in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Hanmi Financial presently has a consensus rating of “Hold” and an average target price of $31.33.

Hanmi Financial Price Performance

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $841.30 million, a price-to-earnings ratio of 11.19 and a beta of 0.77. The business’s 50 day simple moving average is $28.06 and its 200-day simple moving average is $26.10.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $134.06 million for the quarter, compared to the consensus estimate of $71.40 million. Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%. On average, research analysts forecast that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Monday, February 9th will be issued a $0.28 dividend. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, February 9th. This represents a $1.12 dividend on an annualized basis and a yield of 4.0%. Hanmi Financial’s dividend payout ratio (DPR) is 43.03%.

Institutional Investors Weigh In On Hanmi Financial

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Hanmi Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after buying an additional 45,511 shares during the period. LSV Asset Management boosted its position in Hanmi Financial by 3.0% during the second quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock valued at $34,983,000 after acquiring an additional 40,684 shares during the last quarter. American Century Companies Inc. grew its holdings in Hanmi Financial by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after acquiring an additional 60,876 shares during the period. Geode Capital Management LLC raised its position in shares of Hanmi Financial by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock worth $19,728,000 after acquiring an additional 21,157 shares in the last quarter. Finally, Rhino Investment Partners Inc lifted its stake in shares of Hanmi Financial by 27.1% in the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after purchasing an additional 167,485 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.