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

Key Points

• Analysts have a consensus recommendation of "Hold" on Hanmi Financial (3 hold, 2 buy) with an average 1-year price objective of $32.17.
• Insider Matthew Fuhr sold 3,300 shares at an average price of $30.83 on April 28, reducing his stake by 8.85%; insiders own 2.12% of the company.
• Hanmi announced a quarterly dividend of $0.28 per share (annualized $1.12, ~3.7% yield) and reported quarterly EPS of $0.75, beating the $0.71 estimate.

Shares of Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) have been given a consensus recommendation of "Hold" by the five research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.1667.

A number of research firms recently issued reports on HAFC. Keefe, Bruyette & Woods raised their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a "market perform" rating in a report on Thursday, April 9th. Piper Sandler raised their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Hanmi Financial from a "buy" rating to a "hold" rating in a report on Saturday, January 24th. Finally, DA Davidson reissued a "neutral" rating and issued a $29.50 price objective on shares of Hanmi Financial in a report on Thursday, January 29th.

Insider Buying and Selling

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the sale, the insider owned 34,002 shares in the company, valued at approximately $1,048,281.66. This trade represents a 8.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.12% of the company's stock.

Institutional Investors Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank's stock worth $59,513,000 after acquiring an additional 45,511 shares during the period. State Street Corp raised its position in shares of Hanmi Financial by 0.3% during the fourth quarter. State Street Corp now owns 1,349,873 shares of the bank's stock valued at $36,487,000 after buying an additional 4,651 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Hanmi Financial by 7.0% in the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank's stock worth $23,033,000 after buying an additional 60,876 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hanmi Financial by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 837,483 shares of the bank's stock worth $22,641,000 after buying an additional 25,143 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Hanmi Financial by 30.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank's stock worth $21,260,000 after buying an additional 181,509 shares in the last quarter. Institutional investors own 88.66% of the company's stock.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $30.42 on Thursday. The firm's 50-day moving average price is $27.16 and its 200-day moving average price is $27.35. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $905.09 million, a PE ratio of 11.35 and a beta of 0.73. Hanmi Financial has a 52-week low of $21.84 and a 52-week high of $31.33.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $134.95 million for the quarter, compared to the consensus estimate of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. As a group, analysts anticipate that Hanmi Financial will post 3.16 EPS for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Monday, May 4th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, May 4th. This represents a $1.12 dividend on an annualized basis and a yield of 3.7%. Hanmi Financial's dividend payout ratio (DPR) is presently 41.79%.

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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