Hanmi Financial (NASDAQ:HAFC) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Hanmi Financial Corporation (NASDAQ:HAFC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.10 and traded as high as $28.43. Hanmi Financial shares last traded at $28.09, with a volume of 230,576 shares.

Analyst Upgrades and Downgrades

HAFC has been the subject of several research analyst reports. Zacks Research lowered shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on shares of Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. Piper Sandler increased their price objective on shares of Hanmi Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wall Street Zen downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.33.

Hanmi Financial Trading Up 0.5%

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 firm has a market capitalization of $841.30 million, a PE ratio of 11.19 and a beta of 0.77. The firm’s fifty day moving average is $28.06 and its two-hundred day moving average is $26.10.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $134.06 million during the quarter, compared to analysts’ expectations of $71.40 million. Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%. On average, equities analysts predict that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.0%. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 9th. Hanmi Financial’s payout ratio is presently 43.03%.

Institutional Trading of Hanmi Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Unison Advisors LLC lifted its holdings in shares of Hanmi Financial by 1.1% in the fourth quarter. Unison Advisors LLC now owns 32,259 shares of the bank’s stock worth $872,000 after buying an additional 356 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Hanmi Financial by 17.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock worth $66,000 after acquiring an additional 394 shares during the period. Nisa Investment Advisors LLC increased its holdings in Hanmi Financial by 15.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock worth $100,000 after acquiring an additional 531 shares during the period. Cerity Partners LLC lifted its stake in Hanmi Financial by 1.7% in the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock worth $908,000 after purchasing an additional 632 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hanmi Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock valued at $405,000 after purchasing an additional 780 shares during the period. Hedge funds and other 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.