Hanmi Financial Corporation (NASDAQ:HAFC) Receives Average Recommendation of “Hold” from Brokerages

Hanmi Financial Corporation (NASDAQ:HAFC) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $31.3333.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Unison Advisors LLC boosted its holdings in Hanmi Financial by 1.1% during the fourth quarter. Unison Advisors LLC now owns 32,259 shares of the bank’s stock valued at $872,000 after purchasing an additional 356 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Hanmi Financial by 17.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock worth $66,000 after buying an additional 394 shares during the period. Royal Bank of Canada boosted its stake 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 buying an additional 439 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Hanmi Financial by 15.1% in the second quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock valued at $100,000 after acquiring an additional 531 shares during the period. Finally, Cerity Partners LLC raised its stake in Hanmi Financial by 1.7% during the second quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock worth $908,000 after acquiring an additional 632 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Stock Up 0.0%

HAFC opened at $27.39 on Friday. The business has a 50 day moving average of $27.80 and a 200-day moving average of $26.37. The stock has a market capitalization of $820.33 million, a price-to-earnings ratio of 10.91 and a beta of 0.77. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. Hanmi Financial has a 1-year low of $19.25 and a 1-year high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%.The company had revenue of $134.06 million for the quarter, compared to the consensus estimate of $71.40 million. As a group, sell-side analysts anticipate that Hanmi Financial 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. Stockholders of record on Monday, February 9th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, February 9th. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. Hanmi Financial’s payout ratio is 44.62%.

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.