Hanmi Financial Corporation (NASDAQ:HAFC) Given Average Rating of “Hold” by Brokerages

Hanmi Financial Corporation (NASDAQ:HAFC) has earned an average recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.3333.

Several brokerages recently issued reports on HAFC. DA Davidson reiterated a “neutral” rating and issued a $29.50 target price on shares of Hanmi Financial in a research note on Thursday, January 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday, December 29th. Piper Sandler upped their price objective on Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Zacks Research cut Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Finally, Wall Street Zen downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th.

Hedge Funds Weigh In On Hanmi Financial

Several institutional investors and hedge funds have recently modified their holdings of HAFC. Vanguard Group Inc. lifted its stake in shares of Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after buying an additional 45,511 shares during the last quarter. LSV Asset Management grew its stake in Hanmi Financial by 3.0% in the 2nd quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock valued at $34,983,000 after buying an additional 40,684 shares during the last quarter. State Street Corp grew its stake in Hanmi Financial by 0.3% in the 4th quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock valued at $36,487,000 after buying an additional 4,651 shares during the last quarter. American Century Companies Inc. raised its holdings in Hanmi Financial by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock valued at $23,033,000 after acquiring an additional 60,876 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Hanmi Financial by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 837,483 shares of the bank’s stock valued at $22,641,000 after acquiring an additional 25,143 shares during the period. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Hanmi Financial Price Performance

Shares of HAFC opened at $26.12 on Wednesday. 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 company’s fifty day simple moving average is $26.92 and its 200 day simple moving average is $26.67. Hanmi Financial has a 1-year low of $19.25 and a 1-year high of $30.20. The company has a market cap of $780.73 million, a price-to-earnings ratio of 10.41 and a beta of 0.74.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $71.20 million during the quarter, compared to analyst estimates of $71.40 million. Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. On average, research analysts forecast that Hanmi Financial will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.12 annualized dividend and a yield of 4.3%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. Hanmi Financial’s payout ratio is 44.62%.

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.