Hanmi Financial (NASDAQ:HAFC) Sets New 52-Week High – Time to Buy?

by · The Cerbat Gem

Hanmi Financial Corporation (NASDAQ:HAFC – Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $28.72 and last traded at $28.5750, with a volume of 78657 shares. The stock had previously closed at $28.27.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Zacks Research raised Hanmi Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 1st. Wall Street Zen upgraded Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.50.

Get Our Latest Report on HAFC

Hanmi Financial Price Performance

The firm has a 50 day moving average price of $26.23 and a two-hundred day moving average price of $24.96. The company has a market cap of $857.62 million, a P/E ratio of 11.98 and a beta of 0.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $70.96 million for the quarter, compared to analysts’ expectations of $67.80 million. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%. On average, analysts predict that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Tuesday, November 4th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.08 annualized dividend and a yield of 3.8%. Hanmi Financial’s dividend payout ratio (DPR) is 45.19%.

Institutional Investors Weigh In On Hanmi Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mariner LLC lifted its position in shares of Hanmi Financial by 57.7% during the third quarter. Mariner LLC now owns 22,685 shares of the bank’s stock worth $560,000 after acquiring an additional 8,302 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Hanmi Financial by 2.5% during the 3rd quarter. Citadel Advisors LLC now owns 59,509 shares of the bank’s stock valued at $1,469,000 after purchasing an additional 1,436 shares during the period. Bank of America Corp DE lifted its holdings in Hanmi Financial by 16.2% during the 3rd quarter. Bank of America Corp DE now owns 92,696 shares of the bank’s stock worth $2,289,000 after purchasing an additional 12,916 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Hanmi Financial in the 3rd quarter worth about $669,000. Finally, Two Sigma Investments LP boosted its stake in Hanmi Financial by 58.2% in the 3rd quarter. Two Sigma Investments LP now owns 143,837 shares of the bank’s stock worth $3,551,000 after purchasing an additional 52,918 shares during the period. Institutional investors own 88.66% of the company’s stock.

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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