Hanmi Financial Corporation (NASDAQ:HAFC) Stock Has Consensus Price Target of $33.00

Key Points

• Hanmi Financial has a consensus “Hold” rating from six analysts, with four holds and two buys. The average 12-month price target is $33.00, compared with the reported share price of $31.67.
• Institutional investors own 88.66% of the stock, with several major funds increasing their positions, including Principal Financial Group and Arrowstreet Capital.
• The bank reported quarterly EPS of $0.79, beating estimates by $0.02, and maintains a quarterly dividend of $0.28, equivalent to an annualized 3.5% yield.

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) has received a consensus rating of "Hold" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $33.00.

A number of research firms have recently issued reports on HAFC. Weiss Ratings reiterated a "buy (b)" rating on shares of Hanmi Financial in a research note on Monday, September 21st. DA Davidson upped their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd.

Hedge Funds Weigh In On Hanmi Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Hanmi Financial by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank's stock worth $46,416,000 after acquiring an additional 56,102 shares during the last quarter. Rhino Investment Partners Inc boosted its holdings in Hanmi Financial by 4.9% in the first quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank's stock valued at $23,248,000 after purchasing an additional 41,008 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Hanmi Financial during the 2nd quarter valued at approximately $12,570,000. Arrowstreet Capital Limited Partnership grew its stake in Hanmi Financial by 26.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 413,571 shares of the bank's stock valued at $10,902,000 after purchasing an additional 87,655 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Hanmi Financial by 47.2% during the 1st quarter. Principal Financial Group Inc. now owns 208,398 shares of the bank's stock worth $5,493,000 after purchasing an additional 66,833 shares during the last quarter. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $31.67 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. Hanmi Financial has a 1-year low of $22.85 and a 1-year high of $33.50. The company has a market capitalization of $939.02 million, a price-to-earnings ratio of 10.66 and a beta of 0.75. The business has a 50-day moving average of $31.74 and a 200-day moving average of $30.47.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The business had revenue of $72.21 million for the quarter, compared to the consensus estimate of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. On average, equities analysts anticipate that Hanmi Financial will post 3.18 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.5%. Hanmi Financial's payout ratio is currently 37.71%.

Hanmi Financial Company Profile

Hanmi Financial Corporation is the parent company of Hanmi Bank, a community-focused commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American communities and has expanded its customer base to include small and middle-market businesses, professionals, and individuals in diverse communities.

Hanmi Bank offers commercial and consumer banking products, including business loans, commercial real estate financing, Small Business Administration loans, commercial and residential mortgage lending, checking and savings accounts, certificates of deposit, and consumer loans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.