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

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $33.00.

A number of brokerages recently weighed in on HAFC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a research note on Monday, September 21st. DA Davidson boosted their price objective on Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $31.68 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $939.28 million, a PE ratio of 10.67 and a beta of 0.75. Hanmi Financial has a fifty-two week low of $22.85 and a fifty-two week high of $33.50. The company has a fifty day moving average of $31.73 and a two-hundred day moving average of $30.59.

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

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.5%. Hanmi Financial’s payout ratio is currently 37.71%.

Institutional Trading of Hanmi Financial

Large investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Hanmi Financial by 62.6% in the 2nd quarter. Allworth Financial LP now owns 1,003 shares of the bank’s stock valued at $32,000 after purchasing an additional 386 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Hanmi Financial by 35,033.3% during the first quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock worth $28,000 after buying an additional 1,051 shares in the last quarter. Nykredit A S purchased a new stake in shares of Hanmi Financial during the second quarter worth $35,000. GAMMA Investing LLC raised its position in shares of Hanmi Financial by 22.5% in the second quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock valued at $81,000 after buying an additional 456 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Hanmi Financial by 85.4% in the first quarter. Royal Bank of Canada now owns 3,486 shares of the bank’s stock valued at $92,000 after buying an additional 1,606 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

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.