Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Hanmi Financial (NASDAQ:HAFC)

Keefe, Bruyette & Woods restated their market perform rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $18.00 price objective on the bank’s stock, down from their previous price objective of $18.50.

Separately, Wedbush reissued a neutral rating and issued a $17.00 price objective on shares of Hanmi Financial in a report on Wednesday.

Hanmi Financial Stock Performance

Shares of HAFC stock opened at $15.82 on Wednesday. The company has a market capitalization of $479.03 million, a price-to-earnings ratio of 6.59 and a beta of 0.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 0.98. The company has a 50-day simple moving average of $15.24 and a 200 day simple moving average of $16.43. Hanmi Financial has a 52 week low of $13.35 and a 52 week high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.70%. On average, sell-side analysts predict that Hanmi Financial will post 2.1 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Friday, May 3rd. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.67%.

Institutional Trading of Hanmi Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hanmi Financial by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after acquiring an additional 4,756 shares during the period. Assenagon Asset Management S.A. increased its position in Hanmi Financial by 151.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after purchasing an additional 266,949 shares in the last quarter. AQR Capital Management LLC increased its position in Hanmi Financial by 59.9% during the 3rd quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock worth $6,311,000 after purchasing an additional 145,703 shares in the last quarter. American Century Companies Inc. increased its position in Hanmi Financial by 10.8% during the 3rd quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock worth $5,825,000 after purchasing an additional 35,104 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in Hanmi Financial by 2,264.9% during the 4th quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after purchasing an additional 228,365 shares in 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.