Analysts Set Hanmi Financial Corporation (NASDAQ:HAFC) Price Target at $32.10

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $33.00.

Several equities research analysts have recently issued reports on HAFC shares. Piper Sandler raised their target price on Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods boosted their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. DA Davidson increased their price target on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a research report on Thursday. Brean Capital restated a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a research report on Wednesday, June 24th.

Insider Activity at Hanmi Financial

In related news, insider Matthew Fuhr sold 3,300 shares of Hanmi Financial stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony I. Kim sold 5,333 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the transaction, the insider owned 41,615 shares in the company, valued at approximately $1,278,828.95. The trade was a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.12% of the company’s stock.

Institutional Investors Weigh In On Hanmi Financial

Several large investors have recently added to or reduced their stakes in HAFC. Assetmark Inc. lifted its stake in shares of Hanmi Financial by 35,033.3% during 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. Royal Bank of Canada grew 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 buying an additional 439 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,764 shares during the period. Tower Research Capital LLC TRC raised its holdings in Hanmi Financial by 148.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after acquiring an additional 1,442 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Hanmi Financial by 22.5% during the second quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock worth $81,000 after acquiring an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $31.69 on Tuesday. The company has a market capitalization of $943.41 million, a PE ratio of 10.67 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $31.37 and its 200-day moving average price is $28.88. Hanmi Financial has a twelve month low of $22.00 and a twelve month high of $33.50.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $72.21 million during the quarter, compared to the consensus estimate of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. On average, equities analysts anticipate that Hanmi Financial will post 3.17 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 3rd. Hanmi Financial’s dividend payout ratio is currently 37.71%.

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.