Hanmi Financial (NASDAQ:HAFC) Price Target Raised to $32.00

Hanmi Financial (NASDAQ:HAFC) had its target price upped by Keefe, Bruyette & Woods from $31.50 to $32.00 in a report published on Thursday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other analysts also recently commented on the company. Piper Sandler decreased their target price on Hanmi Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. DA Davidson reiterated a “neutral” rating and set a $29.50 target price on shares of Hanmi Financial in a research report on Thursday, January 29th. Wall Street Zen downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday, December 29th. Finally, Zacks Research downgraded Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.17.

Hanmi Financial Stock Down 0.4%

Hanmi Financial stock opened at $28.00 on Thursday. The stock’s 50 day moving average price is $26.57 and its 200 day moving average price is $26.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $836.92 million, a PE ratio of 11.16 and a beta of 0.68. Hanmi Financial has a 1-year low of $19.90 and a 1-year high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last posted its 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 firm had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $71.40 million. Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%. On average, sell-side analysts predict that Hanmi Financial will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 9th. Hanmi Financial’s payout ratio is presently 44.62%.

Hedge Funds Weigh In On Hanmi Financial

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Hanmi Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after acquiring an additional 45,511 shares during the last quarter. State Street Corp raised its holdings in shares of Hanmi Financial by 0.3% in the fourth quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock worth $36,487,000 after acquiring an additional 4,651 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Hanmi Financial by 7.0% in the third 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 last quarter. Geode Capital Management LLC raised its holdings in shares of Hanmi Financial by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 837,483 shares of the bank’s stock worth $22,641,000 after acquiring an additional 25,143 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Hanmi Financial by 30.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock worth $21,260,000 after acquiring an additional 181,509 shares during the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

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.