Hanmi Financial Corporation (NASDAQ:HAFC) Stock Has Consensus Target Price of $33.00 According to Brokerages

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.00.

A number of research analysts have issued reports on HAFC shares. DA Davidson boosted their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a research note on Monday, September 21st.

Institutional Trading of Hanmi Financial

Large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in Hanmi Financial in the 2nd quarter valued at about $119,000. Squarepoint Ops LLC bought a new stake in shares of Hanmi Financial during the 2nd quarter worth about $434,000. Allworth Financial LP raised its position in shares of Hanmi Financial by 62.6% during the 2nd quarter. Allworth Financial LP now owns 1,003 shares of the bank’s stock worth $32,000 after buying an additional 386 shares in the last quarter. Nykredit A S acquired a new stake in shares of Hanmi Financial in the 2nd quarter worth approximately $35,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Hanmi Financial in the 2nd quarter worth approximately $220,000. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $31.27 on Friday. Hanmi Financial has a 1-year low of $22.85 and a 1-year high of $33.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average price is $31.72 and its two-hundred day moving average price is $30.67. The firm has a market capitalization of $927.16 million, a PE ratio of 10.53 and a beta of 0.75.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%.The company had revenue of $72.21 million for the quarter, compared to analysts’ expectations of $74.03 million. On average, research analysts expect that Hanmi Financial will post 3.19 EPS for the current year.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, August 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. Hanmi Financial’s dividend payout ratio is 37.71%.

About Hanmi Financial

Hanmi Financial Corporation is the parent company of Hanmi Bank, a community-focused commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American communities and has expanded its customer base to include small and middle-market businesses, professionals, and individuals in diverse communities.

Hanmi Bank offers commercial and consumer banking products, including business loans, commercial real estate financing, Small Business Administration loans, commercial and residential mortgage lending, checking and savings accounts, certificates of deposit, and consumer loans.