Hanmi Financial Corporation (NASDAQ:HAFC) Receives $31.33 Consensus Target Price from Analysts

Hanmi Financial Corporation (NASDAQ:HAFC) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $31.3333.

Several equities analysts have issued reports on HAFC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. Wall Street Zen lowered shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Piper Sandler lifted their target price on shares of Hanmi Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. DA Davidson reissued a “neutral” rating and set a $29.50 target price on shares of Hanmi Financial in a research report on Thursday, January 29th. Finally, Zacks Research lowered shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AlphaQuest LLC lifted its stake in shares of Hanmi Financial by 201.7% in the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock worth $44,000 after buying an additional 1,198 shares in the last quarter. Royal Bank of Canada raised its holdings in Hanmi Financial by 30.5% in the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after acquiring an additional 439 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Hanmi Financial by 343.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,764 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 1,442 shares in the last quarter. Finally, SummitTX Capital L.P. purchased a new position in Hanmi Financial in the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Stock Down 1.4%

NASDAQ HAFC opened at $25.34 on Wednesday. The company has a fifty day moving average of $26.98 and a two-hundred day moving average of $26.63. The firm has a market capitalization of $757.41 million, a price-to-earnings ratio of 10.10 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. Hanmi Financial has a 52 week low of $19.25 and a 52 week high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The company had revenue of $71.20 million during 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, analysts predict that Hanmi Financial will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.12 dividend on an annualized basis and a yield of 4.4%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.27. Hanmi Financial’s payout ratio is 44.62%.

About Hanmi Financial

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.