Hanmi Financial Corporation (NASDAQ:HAFC) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Hanmi Financial Corporation has an average analyst rating of "Hold", with four analysts recommending a hold and two recommending a buy, as reported by Marketbeat.
• The company's recent earnings report showed that it missed the consensus estimate for earnings per share (EPS) by $0.12 and had a net margin of 15.11% for the quarter.
• Hanmi Financial declared a quarterly dividend of $0.27 per share, yielding 4.3%, and its dividend payout ratio is currently at 50.23%.

Shares of Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) have earned an average rating of "Hold" from the six brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $26.00.

A number of analysts have recently issued reports on HAFC shares. Zacks Research upgraded shares of Hanmi Financial from a "strong sell" rating to a "hold" rating in a report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of Hanmi Financial from $27.00 to $28.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Piper Sandler lowered their target price on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Finally, DA Davidson upped their target price on shares of Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd.

Hanmi Financial Stock Down 0.8%

HAFC stock opened at $24.88 on Wednesday. The firm has a market cap of $749.53 million, a PE ratio of 11.57 and a beta of 0.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98. The firm's fifty day moving average is $24.35 and its 200 day moving average is $23.51. Hanmi Financial has a one year low of $17.92 and a one year high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.12). Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. The company had revenue of $65.21 million during the quarter, compared to analyst estimates of $65.70 million. During the same quarter last year, the business earned $0.48 EPS. On average, research analysts forecast that Hanmi Financial will post 2.6 EPS for the current year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, August 4th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a yield of 4.3%. Hanmi Financial's dividend payout ratio is presently 50.23%.

Hedge Funds Weigh In On Hanmi Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Hanmi Financial by 91.4% during the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock worth $32,000 after purchasing an additional 681 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Hanmi Financial by 8,375.5% in the first quarter. Russell Investments Group Ltd. now owns 45,598 shares of the bank's stock valued at $1,033,000 after buying an additional 45,060 shares during the period. SG Americas Securities LLC raised its holdings in Hanmi Financial by 1.9% in the first quarter. SG Americas Securities LLC now owns 25,406 shares of the bank's stock valued at $576,000 after buying an additional 480 shares during the period. Walleye Capital LLC purchased a new stake in shares of Hanmi Financial during the first quarter valued at approximately $323,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Hanmi Financial by 56.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,112 shares of the bank's stock valued at $566,000 after purchasing an additional 9,091 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

Hanmi Financial Company Profile

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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