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

Key Points

• Analyst sentiment is mixed but cautious: Hanmi Financial has a consensus rating of “Hold” from six analysts, with four holds and two buys. The average 1-year price target is $32.10.
• The stock has been trading near its highs: Shares opened at $32.47, close to the 52-week high of $32.52, and were up 1.1% in the latest session. The company has a market cap of about $966.6 million.
• Recent fundamentals were solid: Hanmi Financial reported quarterly EPS of $0.75, beating estimates, and paid a quarterly dividend of $0.28 per share for an annualized yield of 3.4%. Institutional investors own a large majority of the stock at 88.66%.

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) has been assigned an average rating of "Hold" from the six ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $32.10.

HAFC has been the subject of a number of research analyst reports. Brean Capital restated a "neutral" rating and issued a $32.00 price target on shares of Hanmi Financial in a research note on Thursday, May 28th. Piper Sandler upped their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Keefe, Bruyette & Woods upped their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a "market perform" rating in a report on Thursday, April 9th. Finally, Capital One Financial set a $32.00 price target on shares of Hanmi Financial in a report on Thursday, May 28th.

Hanmi Financial Stock Up 1.1%

Shares of NASDAQ HAFC opened at $32.47 on Friday. Hanmi Financial has a 1 year low of $22.00 and a 1 year high of $32.52. The firm has a market cap of $966.63 million, a price-to-earnings ratio of 12.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98. The stock's 50-day simple moving average is $30.16 and its 200-day simple moving average is $28.28.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The business had revenue of $134.95 million for the quarter, compared to analyst estimates of $71.40 million. As a group, equities analysts anticipate that Hanmi Financial will post 3.16 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 4th. Hanmi Financial's payout ratio is currently 41.79%.

Insider Activity

In related news, insider Matthew Fuhr sold 3,300 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total value of $101,739.00. Following the completion of the sale, the insider directly owned 34,002 shares of the company's stock, valued at $1,048,281.66. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony I. Kim sold 5,333 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.73, for a total transaction of $163,883.09. Following the sale, the insider owned 41,615 shares of the company's stock, valued at approximately $1,278,828.95. The trade was a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.12% of the stock is owned by insiders.

Institutional Trading of Hanmi Financial

A number of large investors have recently modified their holdings of HAFC. Hillsdale Investment Management Inc. acquired a new stake in Hanmi Financial in the 4th quarter valued at approximately $7,276,000. Goldman Sachs Group Inc. boosted its stake in shares of Hanmi Financial by 30.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank's stock worth $21,260,000 after acquiring an additional 181,509 shares in the last quarter. Rhino Investment Partners Inc boosted its stake in shares of Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank's stock worth $19,400,000 after acquiring an additional 167,485 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Hanmi Financial by 237.1% in the fourth quarter. Millennium Management LLC now owns 178,125 shares of the bank's stock worth $4,815,000 after buying an additional 125,292 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Hanmi Financial by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 322,852 shares of the bank's stock worth $8,727,000 after buying an additional 103,300 shares during the period. Institutional investors and hedge funds own 88.66% of the company's stock.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed 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.