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

Hanmi Financial Corporation (NASDAQ:HAFC) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $32.10.

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

Insider Activity at Hanmi Financial

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the transaction, the insider owned 34,002 shares of the company’s stock, valued at approximately $1,048,281.66. This represents a 8.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HAFC. Assetmark Inc. increased its position in shares of Hanmi Financial by 35,033.3% in the 1st quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock valued at $28,000 after buying an additional 1,051 shares in the last quarter. AlphaQuest LLC lifted its stake in Hanmi Financial by 201.7% in the 3rd quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after purchasing an additional 1,198 shares during the last quarter. Royal Bank of Canada lifted its stake in Hanmi Financial by 30.5% in the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after purchasing an additional 439 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Hanmi Financial by 343.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Hanmi Financial by 148.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after acquiring an additional 1,442 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $30.12 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. 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 stock’s fifty day simple moving average is $28.52 and its 200 day simple moving average is $27.79. Hanmi Financial has a 52-week low of $22.00 and a 52-week high of $31.33.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share 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 the consensus estimate of $71.40 million. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%. As a group, sell-side analysts forecast that Hanmi Financial will post 3.16 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th were issued a $0.28 dividend. This represents a $1.12 annualized dividend 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%.

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.