Analysts Set Hanmi Financial Corporation (NASDAQ:HAFC) Price Target at $28.50

by · The Cerbat Gem

Hanmi Financial Corporation (NASDAQ:HAFC – Get Free Report) has received an average rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $28.50.

A number of brokerages recently weighed in on HAFC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday. Wall Street Zen raised Hanmi Financial from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Zacks Research upgraded Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd.

View Our Latest Analysis on Hanmi Financial

Institutional Trading of Hanmi Financial

Several hedge funds have recently bought and sold shares of HAFC. Quarry LP boosted its stake in Hanmi Financial by 114.3% during the 1st quarter. Quarry LP now owns 1,830 shares of the bank’s stock valued at $41,000 after purchasing an additional 976 shares during the period. US Bancorp DE bought a new stake in shares of Hanmi Financial during the first quarter valued at approximately $42,000. AlphaQuest LLC boosted its position 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 buying an additional 1,198 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 1,764 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Hanmi Financial by 148.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after buying an additional 1,442 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Stock Performance

HAFC stock opened at $29.13 on Monday. The stock’s 50 day simple moving average is $26.39 and its 200 day simple moving average is $25.02. Hanmi Financial has a 12-month low of $19.25 and a 12-month high of $29.27. The firm has a market cap of $872.44 million, a P/E ratio of 12.19 and a beta of 0.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Hanmi Financial (NASDAQ:HAFC – Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $70.96 million during the quarter, compared to the consensus estimate of $67.80 million. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. As a group, equities research analysts predict that Hanmi Financial will post 2.6 EPS for the current year.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.08 annualized dividend and a dividend yield of 3.7%. Hanmi Financial’s payout ratio is 45.19%.

About Hanmi Financial

(Get Free Report)

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

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