Hanmi Financial Corporation (HAFC) Lowered to “Hold” at ValuEngine
ValuEngine lowered shares of Hanmi Financial Corporation (NASDAQ:HAFC) from a buy rating to a hold rating in a research report sent to investors on Thursday.
Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods set a $28.00 target price on Hanmi Financial Corporation and gave the stock a hold rating in a research note on Saturday, October 7th. Piper Jaffray Companies reissued a hold rating and set a $31.00 target price on shares of Hanmi Financial Corporation in a research note on Friday, October 6th. Zacks Investment Research raised Hanmi Financial Corporation from a sell rating to a hold rating in a research note on Wednesday, September 20th. Finally, BidaskClub cut Hanmi Financial Corporation from a sell rating to a strong sell rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Hanmi Financial Corporation has a consensus rating of Hold and an average target price of $31.00.
Hanmi Financial Corporation (NASDAQ HAFC) remained flat at $$28.90 during midday trading on Thursday. The company had a trading volume of 134,508 shares, compared to its average volume of 141,437. Hanmi Financial Corporation has a fifty-two week low of $25.45 and a fifty-two week high of $35.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $944.84, a P/E ratio of 16.19, a PEG ratio of 2.02 and a beta of 0.79.
Hanmi Financial Corporation (NASDAQ:HAFC) last posted its earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Hanmi Financial Corporation had a return on equity of 10.60% and a net margin of 24.54%. The business had revenue of $53.74 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the business earned $0.41 EPS. analysts anticipate that Hanmi Financial Corporation will post 1.81 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 30th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, October 27th. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. Hanmi Financial Corporation’s dividend payout ratio is currently 46.93%.
Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of Hanmi Financial Corporation by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,112 shares of the bank’s stock worth $145,000 after acquiring an additional 765 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Hanmi Financial Corporation by 79.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,401 shares of the bank’s stock worth $182,000 after acquiring an additional 2,831 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Hanmi Financial Corporation by 4.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,630 shares of the bank’s stock worth $217,000 after acquiring an additional 300 shares in the last quarter. Airain ltd bought a new position in shares of Hanmi Financial Corporation during the 2nd quarter worth approximately $226,000. Finally, Aperio Group LLC bought a new position in shares of Hanmi Financial Corporation during the 3rd quarter worth approximately $233,000. 88.49% of the stock is owned by institutional investors.
About Hanmi Financial Corporation
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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