Hanmi Financial (NASDAQ:HAFC) Reaches New 1-Year High – Here’s What Happened

Hanmi Financial Corporation (NASDAQ:HAFC) hit a new 52-week high during trading on Monday . The stock traded as high as $29.44 and last traded at $29.3990, with a volume of 34089 shares trading hands. The stock had previously closed at $29.04.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HAFC. Zacks Research upgraded shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 8th. Wall Street Zen raised Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Keefe, Bruyette & Woods boosted their target price on Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hanmi Financial presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Hanmi Financial Stock Up 0.0%

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day simple moving average of $26.57 and a two-hundred day simple moving average of $25.12. The company has a market cap of $870.05 million, a PE ratio of 12.15 and a beta of 0.75.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%.The firm had revenue of $70.96 million during the quarter, compared to analysts’ expectations of $67.80 million. Research analysts anticipate that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Tuesday, November 4th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, November 4th. Hanmi Financial’s payout ratio is currently 45.19%.

Institutional Trading of Hanmi Financial

Several hedge funds and other institutional investors have recently bought and sold shares of HAFC. EverSource Wealth Advisors LLC increased its position in shares of Hanmi Financial by 17.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock worth $66,000 after purchasing an additional 394 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in Hanmi Financial by 4.0% in the second quarter. Pallas Capital Advisors LLC now owns 12,957 shares of the bank’s stock worth $320,000 after purchasing an additional 504 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Hanmi Financial by 15.1% in the second quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock valued at $100,000 after buying an additional 531 shares during the last quarter. Cerity Partners LLC raised its stake in Hanmi Financial by 1.7% during the second quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock valued at $908,000 after buying an additional 632 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in Hanmi Financial by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,852 shares of the bank’s stock worth $1,181,000 after buying an additional 641 shares during the last quarter. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Company Profile

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.