Shares of Hanmi Financial Corporation (NASDAQ:HAFC – Get Free Report) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.10.
HAFC has been the topic of several research reports. Piper Sandler upped their target price on Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their price target on Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Capital One Financial set a $32.00 price target on shares of Hanmi Financial in a research note on Thursday, May 28th. Brean Capital reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th.
Get Our Latest Analysis on Hanmi Financial
Hanmi Financial Stock Down 1.3%
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last announced its earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The business had revenue of $134.94 million for the quarter, compared to analyst estimates of $71.40 million. Analysts expect that Hanmi Financial will post 3.16 EPS for the current year.
Hanmi Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th were given a dividend of $0.28 per share. The ex-dividend date was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. Hanmi Financial’s dividend payout ratio (DPR) is 41.79%.
Insider Buying and Selling
In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of Hanmi Financial stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.73, for a total transaction of $163,883.09. Following the transaction, the insider directly owned 41,615 shares of the company’s stock, valued at approximately $1,278,828.95. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Fuhr sold 3,300 shares of the stock in a transaction 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 directly owned 34,002 shares of the company’s stock, valued at $1,048,281.66. The trade was a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.12% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Assetmark Inc. boosted its position in shares of Hanmi Financial by 35,033.3% in the first quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock worth $28,000 after purchasing an additional 1,051 shares during the period. Royal Bank of Canada grew its holdings in Hanmi Financial by 30.5% during the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after buying an additional 439 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Hanmi Financial by 343.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after buying an additional 1,764 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Hanmi Financial by 148.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after buying an additional 1,442 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Hanmi Financial by 22.5% during the second quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock worth $81,000 after acquiring an additional 456 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.
About Hanmi Financial
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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