Hanmi Financial Corporation (NASDAQ:HAFC) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts give Hanmi Financial an average recommendation of Hold (3 holds, 2 buys) with a one‑year average target price of $31.17.
• Hanmi raised its quarterly dividend to $0.28 (annualized $1.12), implying a 4.0% dividend yield and a payout ratio of about 44.6%.
• The bank slightly missed quarterly EPS ($0.70 vs. $0.71), has a market cap of about $836.9M and a P/E of 11.16, and institutional investors own roughly 88.7% of the shares.

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) has received a consensus recommendation of "Hold" from the five research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.1667.

Several equities research analysts have recently commented on HAFC shares. Wall Street Zen downgraded shares of Hanmi Financial from a "buy" rating to a "hold" rating in a research note on Saturday, January 24th. Piper Sandler reduced their target price on shares of Hanmi Financial from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, April 2nd. DA Davidson restated a "neutral" rating and issued a $29.50 target price on shares of Hanmi Financial in a research note on Thursday, January 29th. Keefe, Bruyette & Woods boosted their target price on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a "market perform" rating in a research note on Thursday. Finally, Zacks Research downgraded shares of Hanmi Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 26th.

Institutional Investors Weigh In On Hanmi Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Unison Advisors LLC boosted its stake in shares of Hanmi Financial by 1.1% in the 4th quarter. Unison Advisors LLC now owns 32,259 shares of the bank's stock valued at $872,000 after purchasing an additional 356 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Hanmi Financial by 17.3% in the third 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 during the last quarter. Royal Bank of Canada raised its holdings in shares of Hanmi Financial by 30.5% in the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank's stock valued at $51,000 after buying an additional 439 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Hanmi Financial by 1.7% in the second quarter. Cerity Partners LLC now owns 36,771 shares of the bank's stock valued at $908,000 after buying an additional 632 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Hanmi Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank's stock valued at $405,000 after buying an additional 780 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

Hanmi Financial Stock Down 0.4%

Shares of HAFC stock opened at $28.00 on Friday. The stock has a market cap of $836.92 million, a P/E ratio of 11.16 and a beta of 0.68. Hanmi Financial has a one year low of $19.90 and a one year high of $30.20. The stock has a fifty day moving average price of $26.57 and a 200 day moving average price of $26.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.01). Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. The company had revenue of $71.20 million for the quarter, compared to the consensus estimate of $71.40 million. Analysts predict that Hanmi Financial will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th were paid a $0.28 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.12 annualized dividend and a dividend yield of 4.0%. This is a boost from Hanmi Financial's previous quarterly dividend of $0.27. Hanmi Financial's dividend payout ratio is presently 44.62%.

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.

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