Hanmi Financial Corporation (NASDAQ:HAFC) Receives $28.50 Average Target Price from Analysts

Hanmi Financial Corporation (NASDAQ:HAFC) has been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $28.50.

HAFC has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. Zacks Research lowered shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised shares of Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th.

Hedge Funds Weigh In On Hanmi Financial

A number of hedge funds have recently modified their holdings of HAFC. LSV Asset Management lifted its holdings in shares of Hanmi Financial by 3.0% during the second quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock valued at $34,983,000 after purchasing an additional 40,684 shares during the last quarter. American Century Companies Inc. raised its holdings in Hanmi Financial by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after buying an additional 60,876 shares during the period. Geode Capital Management LLC lifted its stake in Hanmi Financial by 2.7% during the second quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock valued at $19,728,000 after buying an additional 21,157 shares in the last quarter. Rhino Investment Partners Inc lifted its stake in Hanmi Financial by 27.1% during the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after buying an additional 167,485 shares in the last quarter. Finally, Stieven Capital Advisors L.P. boosted its holdings in shares of Hanmi Financial by 4.3% in the third quarter. Stieven Capital Advisors L.P. now owns 634,676 shares of the bank’s stock worth $15,670,000 after buying an additional 25,900 shares during the period. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Hanmi Financial Price Performance

Shares of NASDAQ:HAFC opened at $26.85 on Friday. Hanmi Financial has a 12 month low of $19.25 and a 12 month high of $29.46. The stock has a market cap of $804.16 million, a price-to-earnings ratio of 11.23 and a beta of 0.72. The stock’s 50 day moving average price is $27.56 and its 200 day moving average price is $25.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $67.80 million. Equities research analysts anticipate that Hanmi Financial will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, November 4th. Hanmi Financial’s dividend payout ratio is 45.19%.

About Hanmi Financial

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.