Hanmi Financial Corporation (NASDAQ:HAFC) Receives $32.10 Average PT from Brokerages

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have received a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $33.00.

Several brokerages have issued reports on HAFC. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a research report on Wednesday, June 24th. Brean Capital reissued a “neutral” rating and set a $32.00 price target on shares of Hanmi Financial in a research note on Thursday, May 28th. Keefe, Bruyette & Woods raised their price target on Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Capital One Financial set a $32.00 price objective on Hanmi Financial in a report on Thursday, May 28th. Finally, DA Davidson upped their price objective on Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a research report on Thursday.

Hanmi Financial Stock Performance

Shares of Hanmi Financial stock opened at $32.22 on Tuesday. Hanmi Financial has a 12 month low of $22.00 and a 12 month high of $33.50. The firm has a market capitalization of $959.19 million, a P/E ratio of 10.85 and a beta of 0.72. The company has a current ratio of 0.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $31.32 and a two-hundred day simple moving average of $28.86.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. The firm had revenue of $72.21 million during the quarter, compared to analysts’ expectations of $74.03 million. On average, equities analysts forecast that Hanmi Financial will post 3.16 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 3rd. Hanmi Financial’s payout ratio is currently 37.71%.

Insider Transactions at Hanmi Financial

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the transaction, the insider directly owned 41,615 shares in the company, valued at $1,278,828.95. This represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the completion of the transaction, the insider owned 34,002 shares in the company, valued at $1,048,281.66. This represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HAFC. Vanguard Group Inc. raised its position in Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock valued at $59,513,000 after purchasing an additional 45,511 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Hanmi Financial by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock valued at $46,416,000 after buying an additional 56,102 shares during the period. State Street Corp increased its stake in shares of Hanmi Financial by 0.3% during the fourth quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock valued at $36,487,000 after buying an additional 4,651 shares during the period. Rhino Investment Partners Inc raised its holdings in shares of Hanmi Financial by 4.9% in the first quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock valued at $23,248,000 after acquiring an additional 41,008 shares in the last quarter. Finally, 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 valued at $22,641,000 after acquiring an additional 25,143 shares in the last quarter. 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.