Hanmi Financial (NASDAQ:HAFC) Hits New 12-Month High at $20.92

Hanmi Financial Co. (NASDAQ:HAFC) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $20.92 and last traded at $20.71, with a volume of 198690 shares traded. The stock had previously closed at $20.05.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HAFC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $18.00 price objective (down from $18.50) on shares of Hanmi Financial in a research report on Wednesday, April 24th. Wedbush lifted their price target on shares of Hanmi Financial from $17.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, DA Davidson increased their price objective on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

Hanmi Financial Price Performance

The firm has a 50 day moving average of $16.83 and a 200-day moving average of $16.14. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a market cap of $619.96 million, a P/E ratio of 8.50 and a beta of 0.90.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $106.72 million during the quarter, compared to analyst estimates of $59.07 million. During the same period last year, the firm posted $0.67 EPS. On average, equities research analysts predict that Hanmi Financial Co. will post 1.99 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Monday, August 5th. Hanmi Financial’s payout ratio is currently 41.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HAFC. BNP Paribas Financial Markets boosted its stake in Hanmi Financial by 113.5% during the first quarter. BNP Paribas Financial Markets now owns 82,130 shares of the bank’s stock valued at $1,308,000 after buying an additional 43,662 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Hanmi Financial by 2,264.9% in the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock valued at $4,671,000 after purchasing an additional 228,365 shares in the last quarter. Acadian Asset Management LLC increased its position in Hanmi Financial by 147.5% in the first quarter. Acadian Asset Management LLC now owns 280,909 shares of the bank’s stock worth $4,471,000 after purchasing an additional 167,430 shares during the last quarter. Entropy Technologies LP purchased a new stake in Hanmi Financial during the first quarter valued at $171,000. Finally, PNC Financial Services Group Inc. lifted its position in Hanmi Financial by 90.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,441 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.