Hanmi Financial Corp (HAFC) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Hanmi Financial Corp (NASDAQ:HAFC) have earned a consensus rating of “Hold” from the six brokerages that are covering the company. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $31.33.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Hanmi Financial Corp from a “buy” rating to a “hold” rating in a research note on Friday, January 27th. Piper Jaffray Companies dropped their price target on shares of Hanmi Financial Corp from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Hanmi Financial Corp in a research note on Thursday, April 20th. Finally, FBR & Co lifted their price target on shares of Hanmi Financial Corp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th.
Shares of Hanmi Financial Corp (NASDAQ:HAFC) traded down 0.18% during trading on Friday, hitting $27.60. 18,621 shares of the company were exchanged. The stock has a market cap of $884.75 million, a P/E ratio of 16.05 and a beta of 0.98. Hanmi Financial Corp has a 12 month low of $21.73 and a 12 month high of $35.85. The company’s 50-day moving average price is $29.08 and its 200 day moving average price is $31.41.
Hanmi Financial Corp (NASDAQ:HAFC) last issued its earnings results on Tuesday, April 18th. The bank reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. Hanmi Financial Corp had a net margin of 26.70% and a return on equity of 10.81%. The business had revenue of $49.57 million during the quarter, compared to analysts’ expectations of $51.16 million. During the same period in the prior year, the business posted $0.46 EPS. On average, equities analysts predict that Hanmi Financial Corp will post $1.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Monday, May 8th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, May 4th. Hanmi Financial Corp’s dividend payout ratio (DPR) is 43.18%.
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In related news, Director Joon Hyung Lee sold 6,000 shares of Hanmi Financial Corp stock in a transaction on Monday, April 24th. The shares were sold at an average price of $29.40, for a total transaction of $176,400.00. Following the sale, the director now owns 265,285 shares of the company’s stock, valued at approximately $7,799,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.91% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Hanmi Financial Corp by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 3,570 shares of the bank’s stock valued at $109,000 after buying an additional 80 shares during the period. Louisiana State Employees Retirement System increased its stake in Hanmi Financial Corp by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the bank’s stock valued at $406,000 after buying an additional 200 shares during the period. Arizona State Retirement System increased its stake in Hanmi Financial Corp by 1.8% in the first quarter. Arizona State Retirement System now owns 16,866 shares of the bank’s stock valued at $519,000 after buying an additional 300 shares during the period. ClariVest Asset Management LLC increased its stake in Hanmi Financial Corp by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 7,383 shares of the bank’s stock valued at $227,000 after buying an additional 374 shares during the period. Finally, Mason Street Advisors LLC increased its stake in Hanmi Financial Corp by 7.3% in the first quarter. Mason Street Advisors LLC now owns 7,559 shares of the bank’s stock valued at $232,000 after buying an additional 511 shares during the period. 86.36% of the stock is currently owned by hedge funds and other institutional investors.
Hanmi Financial Corp Company Profile
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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