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

Key Points

• Hanmi Financial Corporation has received a consensus rating of "Hold" from analysts, with five holding and two buying recommendations.
• The company reported a 12-month low of $19.25 and a high of $27.59, with a current stock price of $23.31.
• Hanmi Financial recently declared a quarterly dividend of $0.27 per share, resulting in an annualized dividend yield of 4.6%.

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) has been given an average rating of "Hold" by the seven analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.00.

Several research firms recently issued reports on HAFC. Zacks Research upgraded Hanmi Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, September 22nd. DA Davidson increased their price target on Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Hanmi Financial in a research note on Wednesday, October 8th. Piper Sandler dropped their price target on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods increased their price target on Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $23.31 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. Hanmi Financial has a 12-month low of $19.25 and a 12-month high of $27.59. The stock has a 50-day moving average price of $24.62 and a 200 day moving average price of $23.79. The stock has a market capitalization of $702.33 million, a P/E ratio of 10.84 and a beta of 0.71.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released 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 return on equity of 8.77% and a net margin of 15.11%.The business had revenue of $65.21 million for the quarter, compared to analysts' expectations of $65.70 million. During the same quarter in the prior year, the business posted $0.48 EPS. Equities research analysts forecast that Hanmi Financial will post 2.6 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, August 4th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, August 4th. Hanmi Financial's dividend payout ratio (DPR) is currently 50.23%.

Institutional Investors Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its stake in shares of Hanmi Financial by 1.9% during the 1st quarter. SG Americas Securities LLC now owns 25,406 shares of the bank's stock worth $576,000 after acquiring an additional 480 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Hanmi Financial by 4.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 12,957 shares of the bank's stock worth $320,000 after acquiring an additional 504 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Hanmi Financial by 15.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank's stock worth $100,000 after acquiring an additional 531 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Hanmi Financial by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank's stock worth $908,000 after acquiring an additional 632 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in Hanmi Financial by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,852 shares of the bank's stock worth $1,181,000 after purchasing an additional 641 shares during the period. 88.66% of the stock is owned by institutional investors.

About Hanmi Financial

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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