Hanmi Financial (NASDAQ:HAFC) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Hanmi Financial Corporation (NASDAQ:HAFC)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $26.10 and traded as high as $28.43. Hanmi Financial shares last traded at $28.09, with a volume of 230,576 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen lowered shares of Hanmi Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. DA Davidson restated a “neutral” rating and issued a $29.50 target price on shares of Hanmi Financial in a research note on Thursday, January 29th. Piper Sandler boosted their price target on Hanmi Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Zacks Research cut shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.33.

Hanmi Financial Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $841.30 million, a price-to-earnings ratio of 11.19 and a beta of 0.77. The stock has a fifty day moving average of $28.06 and a two-hundred day moving average of $26.10.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). The firm had revenue of $134.06 million during the quarter, compared to the consensus estimate of $71.40 million. Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. As a group, equities research analysts forecast that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, February 9th. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 4.0%. Hanmi Financial’s dividend payout ratio (DPR) is 43.03%.

Hedge Funds Weigh In On Hanmi Financial

Large investors have recently bought and sold shares of the business. AlphaQuest LLC boosted its holdings in Hanmi Financial by 201.7% in the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after purchasing an additional 1,198 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Hanmi Financial by 343.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after buying an additional 1,764 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Hanmi Financial by 148.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after purchasing an additional 1,442 shares during the period. Nisa Investment Advisors LLC grew its holdings in Hanmi Financial by 15.1% in the 2nd 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 in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Hanmi Financial by 397.2% in the 3rd quarter. Quantbot Technologies LP now owns 8,597 shares of the bank’s stock valued at $212,000 after buying an additional 6,868 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Company Profile

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.