Hanmi Financial Corp (HAFC) Given Consensus Rating of “Buy” by Analysts

Shares of Hanmi Financial Corp (NASDAQ:HAFC) have received an average recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $33.00.

Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Hanmi Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Piper Jaffray Companies reissued a “hold” rating and set a $31.00 price objective on shares of Hanmi Financial in a report on Friday, October 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price objective on shares of Hanmi Financial in a report on Friday, December 22nd. Zacks Investment Research raised shares of Hanmi Financial from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, ValuEngine cut shares of Hanmi Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 9th.

Shares of Hanmi Financial (HAFC) traded down $0.20 during trading on Friday, reaching $31.30. 92,440 shares of the company’s stock traded hands, compared to its average volume of 161,160. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $1,028.08, a PE ratio of 18.50, a PEG ratio of 1.71 and a beta of 0.79. Hanmi Financial has a twelve month low of $25.45 and a twelve month high of $34.55.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $54.03 million during the quarter, compared to analysts’ expectations of $54.53 million. Hanmi Financial had a net margin of 22.52% and a return on equity of 10.59%. research analysts forecast that Hanmi Financial will post 2.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.07%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 2nd. Hanmi Financial’s payout ratio is presently 49.41%.

In related news, Director John J. Ahn acquired 3,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was purchased at an average cost of $31.56 per share, with a total value of $94,680.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.66% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Advisors LLC grew its position in Hanmi Financial by 21.7% during the fourth quarter. Boston Advisors LLC now owns 151,510 shares of the bank’s stock valued at $4,598,000 after buying an additional 27,020 shares during the period. Bank of Montreal Can grew its position in Hanmi Financial by 9.0% during the fourth quarter. Bank of Montreal Can now owns 88,281 shares of the bank’s stock valued at $2,679,000 after buying an additional 7,315 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Hanmi Financial during the third quarter valued at approximately $218,000. Janney Capital Management LLC bought a new stake in Hanmi Financial during the third quarter valued at approximately $258,000. Finally, Dimensional Fund Advisors LP grew its position in Hanmi Financial by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,019,495 shares of the bank’s stock valued at $62,503,000 after buying an additional 10,659 shares during the period. Institutional investors own 89.93% of the company’s stock.

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About Hanmi Financial

Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.

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