Hanmi Financial Corp. (HAFC) Sees Large Volume Increase
Shares of Hanmi Financial Corp. (NASDAQ:HAFC) saw an uptick in trading volume on Friday . 247,489 shares traded hands during trading, an increase of 63% from the previous session’s volume of 151,824 shares.The stock last traded at $23.24 and had previously closed at $22.86.
A number of research firms have weighed in on HAFC. Zacks Investment Research cut shares of Hanmi Financial Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Keefe, Bruyette & Woods lowered shares of Hanmi Financial Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $28.00 to $26.00 in a report on Thursday, June 2nd. Raymond James Financial Inc. lowered shares of Hanmi Financial Corp. from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $26.00 to $27.00 in a report on Friday, April 22nd. Finally, Piper Jaffray Cos. lifted their price target on shares of Hanmi Financial Corp. from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, April 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $26.60.
The stock’s 50-day moving average is $23.33 and its 200-day moving average is $22.30. The stock has a market cap of $740.45 million and a price-to-earnings ratio of 12.98.
Hanmi Financial Corp. (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, April 19th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. During the same quarter in the previous year, the firm earned $0.35 EPS. Equities research analysts expect that Hanmi Financial Corp. will post $1.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, June 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.41%.
A number of hedge funds and institutional investors have modified their holdings of the stock. Morgan Stanley boosted its position in shares of Hanmi Financial Corp. by 1,806.3% in the fourth quarter. Morgan Stanley now owns 51,394 shares of the company’s stock worth $1,219,000 after buying an additional 48,698 shares during the period. Rhumbline Advisers raised its stake in Hanmi Financial Corp. by 3.9% in the fourth quarter. Rhumbline Advisers now owns 52,241 shares of the company’s stock worth $1,239,000 after buying an additional 1,944 shares in the last quarter. First Trust Advisors LP raised its stake in Hanmi Financial Corp. by 28.3% in the fourth quarter. First Trust Advisors LP now owns 58,407 shares of the company’s stock worth $1,385,000 after buying an additional 12,886 shares in the last quarter. California State Teachers Retirement System raised its stake in Hanmi Financial Corp. by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 59,227 shares of the company’s stock worth $1,405,000 after buying an additional 1,100 shares in the last quarter. Finally, LSV Asset Management raised its stake in Hanmi Financial Corp. by 26.7% in the fourth quarter. LSV Asset Management now owns 66,900 shares of the company’s stock worth $1,586,000 after buying an additional 14,100 shares in the last quarter.
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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