Brokerages Set Hanmi Financial Corporation (NASDAQ:HAFC) Target Price at $31.17

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been assigned a consensus rating of “Hold” from the five brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $31.1667.

A number of research firms have recently issued reports on HAFC. Keefe, Bruyette & Woods boosted their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Piper Sandler cut their price target on shares of Hanmi Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Wall Street Zen lowered shares of Hanmi Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $29.50 price objective on shares of Hanmi Financial in a research report on Thursday, January 29th.

Hanmi Financial Stock Down 0.5%

NASDAQ HAFC opened at $27.50 on Friday. Hanmi Financial has a 12 month low of $21.10 and a 12 month high of $30.20. The company’s 50 day simple moving average is $26.57 and its 200 day simple moving average is $26.88. 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 capitalization of $821.98 million, a P/E ratio of 10.96 and a beta of 0.68.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly 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 net margin of 17.10% and a return on equity of 9.85%. The firm had revenue of $71.20 million for the quarter, compared to analyst estimates of $71.40 million. Equities research analysts expect that Hanmi Financial will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors 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 is a boost from Hanmi Financial’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 4.1%. Hanmi Financial’s payout ratio is presently 44.62%.

Institutional Trading of Hanmi Financial

Several large investors have recently added to or reduced their stakes in HAFC. Assenagon Asset Management S.A. bought a new stake in Hanmi Financial in the third quarter worth approximately $7,191,000. Hillsdale Investment Management Inc. bought a new stake in Hanmi Financial in the fourth quarter worth approximately $7,276,000. Goldman Sachs Group Inc. grew its position in 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 in the last quarter. Rhino Investment Partners Inc boosted its holdings in shares of Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock worth $19,400,000 after buying an additional 167,485 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Hanmi Financial by 237.1% during the 4th quarter. Millennium Management LLC now owns 178,125 shares of the bank’s stock worth $4,815,000 after buying an additional 125,292 shares during the period. 88.66% of the stock is owned by institutional investors.

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.