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

Hanmi Financial Corporation (NASDAQ:HAFC) has earned a consensus rating of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. Four equities 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 brokerages that have updated their coverage on the stock in the last year is $33.00.

A number of equities analysts have issued reports on the company. Capital One Financial set a $32.00 target price on Hanmi Financial in a report on Thursday, May 28th. Brean Capital reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Hanmi Financial in a research note on Thursday, May 28th. DA Davidson increased their price target on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hanmi Financial in a research note on Wednesday, June 24th.

Hedge Funds Weigh In On Hanmi Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of Hanmi Financial by 3,695.6% in the 2nd quarter. California State Teachers Retirement System now owns 1,051,769 shares of the bank’s stock valued at $32,462,000 after buying an additional 1,024,059 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Hanmi Financial in the 2nd quarter valued at approximately $12,570,000. Hillsdale Investment Management Inc. bought a new position in Hanmi Financial in the fourth quarter valued at approximately $7,276,000. Goldman Sachs Group Inc. lifted its stake in Hanmi Financial by 30.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock valued at $21,260,000 after buying an additional 181,509 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Hanmi Financial by 237.1% in the fourth quarter. Millennium Management LLC now owns 178,125 shares of the bank’s stock valued at $4,815,000 after buying an additional 125,292 shares during the period. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Stock Performance

HAFC stock opened at $31.69 on Wednesday. Hanmi Financial has a twelve month low of $22.85 and a twelve month high of $33.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market cap of $939.61 million, a P/E ratio of 10.67 and a beta of 0.72. The business’s fifty day moving average is $31.91 and its 200-day moving average is $29.79.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $72.21 million during the quarter, compared to analysts’ expectations of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. Equities research analysts forecast that Hanmi Financial will post 3.18 EPS for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, August 3rd were issued a $0.28 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.12 annualized dividend and a yield of 3.5%. Hanmi Financial’s dividend payout ratio (DPR) is 37.71%.

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.