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

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have earned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $33.00.

Several analysts recently issued reports on HAFC shares. Brean Capital reiterated a “neutral” rating and set a $32.00 target price on shares of Hanmi Financial in a report on Thursday, May 28th. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a research note on Wednesday, June 24th. DA Davidson boosted their price target on Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, Capital One Financial set a $32.00 price objective on Hanmi Financial in a research note on Thursday, May 28th.

Institutional Trading of Hanmi Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Hanmi Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock valued at $59,513,000 after acquiring an additional 45,511 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Hanmi Financial by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock worth $46,416,000 after purchasing an additional 56,102 shares during the last quarter. State Street Corp raised its holdings in shares of Hanmi Financial by 0.3% in the 4th quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock valued at $36,487,000 after purchasing an additional 4,651 shares during the period. California State Teachers Retirement System raised its holdings in shares of Hanmi Financial by 3,695.6% in the 2nd quarter. California State Teachers Retirement System now owns 1,051,769 shares of the bank’s stock valued at $32,462,000 after purchasing an additional 1,024,059 shares during the period. Finally, Rhino Investment Partners Inc lifted its stake in Hanmi Financial by 4.9% in the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock valued at $23,248,000 after purchasing an additional 41,008 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Trading Down 1.2%

Shares of NASDAQ:HAFC opened at $31.69 on Wednesday. The company’s 50-day moving average price is $31.91 and its two-hundred day moving average price is $29.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. Hanmi Financial has a one year low of $22.85 and a one year high of $33.50. The stock has a market capitalization of $939.61 million, a PE ratio of 10.67 and a beta of 0.72.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $72.21 million during the quarter, compared to analysts’ expectations of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. On average, equities analysts forecast that Hanmi Financial will post 3.18 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, August 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, August 3rd. Hanmi Financial’s payout ratio is presently 37.71%.

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.