Hanmi Financial (NASDAQ:HAFC) Reaches New 52-Week High – What’s Next?

Hanmi Financial Corporation (NASDAQ:HAFC) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.05 and last traded at $31.99, with a volume of 225619 shares traded. The stock had previously closed at $31.38.

Analyst Ratings Changes

Several research analysts have recently commented on HAFC shares. Brean Capital reissued a “neutral” rating and issued a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday, May 28th. Keefe, Bruyette & Woods increased their target price on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Capital One Financial set a $32.00 price target on shares of Hanmi Financial in a research report on Thursday, May 28th. Finally, Piper Sandler raised their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Hanmi Financial currently has a consensus rating of “Hold” and a consensus price target of $32.10.

Hanmi Financial Stock Up 0.4%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $959.64 million, a price-to-earnings ratio of 12.00 and a beta of 0.72. The business has a 50-day simple moving average of $30.07 and a 200-day simple moving average of $28.25.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The business had revenue of $134.94 million during the quarter, compared to the consensus estimate of $71.40 million. On average, equities analysts anticipate that Hanmi Financial Corporation will post 3.16 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were paid a dividend of $0.28 per share. The ex-dividend date was Monday, May 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.5%. Hanmi Financial’s payout ratio is presently 41.79%.

Insider Buying and Selling at Hanmi Financial

In related news, insider Matthew Fuhr sold 3,300 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total value of $101,739.00. Following the transaction, the insider owned 34,002 shares of the company’s stock, valued at $1,048,281.66. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anthony I. Kim sold 5,333 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the sale, the insider owned 41,615 shares in the company, valued at approximately $1,278,828.95. This represents a 11.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.12% of the company’s stock.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Hanmi Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after purchasing an additional 45,511 shares in the last quarter. Rhino Investment Partners Inc lifted its position in shares of Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock worth $19,400,000 after buying an additional 167,485 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Hanmi Financial by 287.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 83,475 shares of the bank’s stock valued at $2,257,000 after buying an additional 61,928 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 buying an additional 60,876 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of Hanmi Financial in the 4th quarter valued at $2,263,000. Institutional investors and hedge funds 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.