Hanmi Financial Corporation (NASDAQ:HAFC) Given Average Rating of “Hold” by Brokerages

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been given a consensus rating of “Hold” by the six research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $32.10.

A number of brokerages recently issued reports on HAFC. Keefe, Bruyette & Woods lifted their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Piper Sandler lifted their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Brean Capital reaffirmed a “neutral” rating and set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday. Finally, Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC opened at $30.12 on Monday. The company’s 50 day simple moving average is $28.52 and its 200 day simple moving average is $27.79. The stock has a market capitalization of $896.67 million, a price-to-earnings ratio of 11.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. Hanmi Financial has a 1 year low of $22.00 and a 1 year high of $31.33.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $134.95 million for the quarter, compared to analysts’ expectations of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. As a group, research analysts predict that Hanmi Financial will post 3.16 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 4th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Hanmi Financial’s payout ratio is presently 41.79%.

Insider Buying and Selling at Hanmi Financial

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the sale, the insider owned 34,002 shares of the company’s stock, valued at approximately $1,048,281.66. The trade was a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On Hanmi Financial

A number of hedge funds have recently modified their holdings of HAFC. Royal Bank of Canada lifted its holdings in shares of Hanmi Financial by 8.1% during the first quarter. Royal Bank of Canada now owns 16,441 shares of the bank’s stock worth $372,000 after purchasing an additional 1,234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hanmi Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock worth $405,000 after purchasing an additional 780 shares during the period. Empowered Funds LLC lifted its holdings in shares of Hanmi Financial by 5.4% during the first quarter. Empowered Funds LLC now owns 114,624 shares of the bank’s stock worth $2,597,000 after purchasing an additional 5,920 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Hanmi Financial by 26.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,708 shares of the bank’s stock worth $1,942,000 after purchasing an additional 18,112 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Hanmi Financial by 352.6% during the first quarter. Jane Street Group LLC now owns 44,723 shares of the bank’s stock worth $1,013,000 after purchasing an additional 34,841 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

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.