Hanmi Financial (NASDAQ:HAFC) Receives “Neutral” Rating from Brean Capital

Brean Capital reiterated their neutral rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report report published on Thursday morning, MarketBeat.com reports. They currently have a $32.00 price objective on the bank’s stock.

Several other research firms also recently issued reports on HAFC. Keefe, Bruyette & Woods lifted their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Piper Sandler lifted their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $29.50 price target on shares of Hanmi Financial in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.10.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $30.17 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $898.16 million, a price-to-earnings ratio of 11.26 and a beta of 0.73. The firm’s fifty day simple moving average is $28.42 and its 200 day simple moving average is $27.77. Hanmi Financial has a twelve month low of $22.00 and a twelve month high of $31.33.

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

Hanmi Financial Announces Dividend

The company 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 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 Transactions at Hanmi Financial

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the completion of the transaction, the insider directly owned 34,002 shares of the company’s stock, valued at $1,048,281.66. The trade was a 8.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC acquired a new stake in shares of Hanmi Financial in the 1st quarter worth approximately $1,615,000. Bank of America Corp DE lifted its stake in shares of Hanmi Financial by 23.2% in the 1st quarter. Bank of America Corp DE now owns 120,766 shares of the bank’s stock worth $3,183,000 after acquiring an additional 22,726 shares during the period. Amundi acquired a new stake in shares of Hanmi Financial in the 1st quarter worth approximately $312,000. Royal Bank of Canada lifted its stake in shares of Hanmi Financial by 85.4% in the 1st quarter. Royal Bank of Canada now owns 3,486 shares of the bank’s stock worth $92,000 after acquiring an additional 1,606 shares during the period. Finally, Rhino Investment Partners Inc lifted its stake in shares of Hanmi Financial by 4.9% in the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock worth $23,248,000 after acquiring an additional 41,008 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

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.