Hanmi Financial (NASDAQ:HAFC) Rating Increased to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a market perform rating to an outperform rating in a research note released on Wednesday, MarketBeat reports. They currently have $22.00 price target on the bank’s stock, up from their previous price target of $20.00.

A number of other equities analysts have also weighed in on the stock. Wedbush lowered their price objective on shares of Hanmi Financial from $22.00 to $21.00 and set a neutral rating on the stock in a research report on Tuesday, September 24th. DA Davidson increased their price target on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a neutral rating in a report on Wednesday, July 24th.

Hanmi Financial Stock Up 1.6 %

Shares of NASDAQ HAFC opened at $18.80 on Wednesday. The business has a 50-day moving average of $18.95 and a two-hundred day moving average of $17.10. The company has a market capitalization of $571.28 million, a price-to-earnings ratio of 7.83 and a beta of 0.87. Hanmi Financial has a 1 year low of $13.87 and a 1 year high of $20.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $106.72 million for the quarter, compared to analyst estimates of $59.07 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same quarter last year, the company posted $0.67 earnings per share. On average, analysts forecast that Hanmi Financial will post 1.98 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 5.32%. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.67%.

Hedge Funds Weigh In On Hanmi Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Hanmi Financial by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after buying an additional 911 shares during the period. EMC Capital Management lifted its stake in shares of Hanmi Financial by 8.9% in the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $187,000 after acquiring an additional 958 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after purchasing an additional 1,207 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Hanmi Financial by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after purchasing an additional 1,730 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Hanmi Financial by 3.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 54,423 shares of the bank’s stock worth $866,000 after purchasing an additional 2,004 shares during the last quarter. Institutional investors and hedge funds 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.