Hanmi Financial (NASDAQ:HAFC) Sees Large Volume Increase – What’s Next?

by · The Cerbat Gem

Hanmi Financial Corporation (NASDAQ:HAFC – Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 168,323 shares traded hands during trading, a decline of 8% from the previous session’s volume of 182,527 shares.The stock last traded at $28.8660 and had previously closed at $28.84.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HAFC shares. Wall Street Zen upgraded shares of Hanmi Financial from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Zacks Research upgraded shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday. Finally, Keefe, Bruyette & Woods increased their target price on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Read Our Latest Analysis on Hanmi Financial

Hanmi Financial Trading Up 0.3%

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $26.81 and its two-hundred day moving average is $25.23. The firm has a market cap of $866.15 million, a P/E ratio of 12.08 and a beta of 0.75.

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

Hanmi Financial Dividend Announcement

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

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds have recently made changes to their positions in HAFC. EverSource Wealth Advisors LLC increased its position in Hanmi Financial by 17.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock valued at $66,000 after buying an additional 394 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of Hanmi Financial by 4.0% in the 2nd quarter. Pallas Capital Advisors LLC now owns 12,957 shares of the bank’s stock worth $320,000 after purchasing an additional 504 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Hanmi Financial by 15.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock worth $100,000 after purchasing an additional 531 shares in the last quarter. Cerity Partners LLC grew its position in Hanmi Financial by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock valued at $908,000 after purchasing an additional 632 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in Hanmi Financial by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,852 shares of the bank’s stock valued at $1,181,000 after purchasing an additional 641 shares during the last quarter. 88.66% of the stock is currently owned by institutional investors.

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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