Hanmi Financial (NASDAQ:HAFC) Sets New 12-Month High – Here’s What Happened

Hanmi Financial Co. (NASDAQ:HAFC) hit a new 52-week high on Friday . The stock traded as high as $26.32 and last traded at $26.21, with a volume of 26344 shares changing hands. The stock had previously closed at $25.75.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HAFC shares. DA Davidson lifted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

Hanmi Financial Trading Up 2.4 %

The company has a market capitalization of $796.68 million, a P/E ratio of 12.38 and a beta of 0.84. The business has a fifty day moving average of $21.43 and a 200-day moving average of $18.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The company had revenue of $108.86 million for the quarter, compared to analysts’ expectations of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same period in the previous year, the business posted $0.62 EPS. Analysts anticipate that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.79%. The ex-dividend date was Monday, November 4th. Hanmi Financial’s dividend payout ratio is 48.08%.

Institutional Trading of Hanmi Financial

Several hedge funds and other institutional investors have recently modified their holdings of HAFC. AQR Capital Management LLC raised its position in Hanmi Financial by 32.2% during the second quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock valued at $17,937,000 after purchasing an additional 261,545 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Hanmi Financial by 71.8% in the second quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after buying an additional 201,789 shares in the last quarter. FMR LLC grew its position in Hanmi Financial by 26.1% during the third quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after acquiring an additional 182,164 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Hanmi Financial during the second quarter worth approximately $2,979,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Hanmi Financial by 66.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock worth $7,352,000 after acquiring an additional 157,792 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Company Profile

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.