Keefe, Bruyette & Woods Reiterates Market Perform Rating for Hanmi Financial (NASDAQ:HAFC)

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report released on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a $18.00 price target on the bank’s stock, down from their prior price target of $18.50.

Separately, Wedbush reiterated a neutral rating and set a $17.00 target price on shares of Hanmi Financial in a research report on Wednesday.

Hanmi Financial Price Performance

HAFC stock opened at $15.82 on Wednesday. The firm has a 50 day moving average of $15.24 and a 200-day moving average of $16.43. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Hanmi Financial has a 12 month low of $13.35 and a 12 month high of $20.31. The firm has a market capitalization of $479.03 million, a P/E ratio of 6.59 and a beta of 0.95.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.70%. The company had revenue of $59.82 million during the quarter, compared to analyst estimates of $63.43 million. As a group, sell-side analysts predict that Hanmi Financial will post 2.1 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be issued a $0.25 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.32%. Hanmi Financial’s payout ratio is 41.67%.

Institutional Investors Weigh In On Hanmi Financial

A number of hedge funds have recently made changes to their positions in HAFC. Summit Global Investments bought a new stake in shares of Hanmi Financial in the 3rd quarter worth approximately $270,000. Strs Ohio purchased a new position in shares of Hanmi Financial in the third quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Hanmi Financial by 6.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,519 shares of the bank’s stock worth $268,000 after buying an additional 953 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Hanmi Financial by 3.4% in the third quarter. Teacher Retirement System of Texas now owns 28,605 shares of the bank’s stock worth $464,000 after buying an additional 933 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Hanmi Financial in the third quarter worth $265,000. 88.66% of the stock is currently owned by institutional investors.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.