Brokerages Set Hanmi Financial Corporation (NASDAQ:HAFC) PT at $32.10

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.10.

A number of research analysts have recently commented on HAFC shares. Capital One Financial set a $32.00 price target on Hanmi Financial in a report on Thursday, May 28th. Brean Capital reiterated a “neutral” rating and set a $32.00 price target on shares of Hanmi Financial in a report on Thursday, May 28th. Keefe, Bruyette & Woods upped their price target on Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Finally, Piper Sandler upped their price target on Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, April 27th.

Hanmi Financial Stock Down 0.1%

Shares of Hanmi Financial stock opened at $30.43 on Monday. The stock has a market capitalization of $905.90 million, a P/E ratio of 11.35 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $28.93 and a two-hundred day moving average price of $27.89. Hanmi Financial has a 12-month low of $22.00 and a 12-month high of $31.33.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $134.95 million during the quarter, compared to analysts’ expectations of $71.40 million. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%. Equities analysts expect that Hanmi Financial will post 3.16 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 4th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, May 4th. Hanmi Financial’s dividend payout ratio is currently 41.79%.

Insider Transactions at Hanmi Financial

In other Hanmi Financial 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 transaction of $101,739.00. Following the completion of the transaction, the insider directly owned 34,002 shares in the company, valued at $1,048,281.66. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Assetmark Inc. raised its stake in 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 acquiring an additional 1,051 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Hanmi Financial by 201.7% during the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock worth $44,000 after purchasing an additional 1,198 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Hanmi Financial by 30.5% during the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock worth $51,000 after purchasing an additional 439 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 worth $56,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings 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 last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

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.