Hanmi Financial (NASDAQ:HAFC) Price Target Raised to $21.00

Hanmi Financial (NASDAQ:HAFC) had its target price increased by DA Davidson from $18.00 to $21.00 in a report released on Wednesday morning, Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Hanmi Financial’s Q3 2024 earnings at $0.47 EPS, FY2024 earnings at $1.92 EPS and FY2025 earnings at $2.11 EPS.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods restated a market perform rating and issued a $18.00 target price (down from $18.50) on shares of Hanmi Financial in a report on Wednesday, April 24th. Wedbush restated a neutral rating and issued a $17.00 target price on shares of Hanmi Financial in a report on Wednesday, April 24th.

Hanmi Financial Stock Up 2.0 %

Shares of NASDAQ HAFC opened at $20.51 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. Hanmi Financial has a 52 week low of $13.87 and a 52 week high of $20.90. The firm has a 50-day moving average price of $16.60 and a 200 day moving average price of $16.11. The stock has a market capitalization of $623.24 million, a price-to-earnings ratio of 8.55 and a beta of 0.90.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $106.72 million during the quarter, compared to the consensus estimate of $59.07 million. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. During the same period in the previous year, the firm posted $0.67 earnings per share. Equities research analysts anticipate that Hanmi Financial will post 1.99 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 4.88%. Hanmi Financial’s dividend payout ratio is currently 41.67%.

Institutional Investors Weigh In On Hanmi Financial

Several institutional investors have recently bought and sold shares of HAFC. Assenagon Asset Management S.A. grew its stake in Hanmi Financial by 151.2% during the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after buying an additional 266,949 shares during the period. Hsbc Holdings PLC grew its stake in Hanmi Financial by 2,264.9% during the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after buying an additional 228,365 shares during the period. Acadian Asset Management LLC grew its stake in Hanmi Financial by 147.5% during the first quarter. Acadian Asset Management LLC now owns 280,909 shares of the bank’s stock worth $4,471,000 after buying an additional 167,430 shares during the period. Vanguard Group Inc. lifted its position in shares of Hanmi Financial by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock worth $35,903,000 after purchasing an additional 58,097 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Hanmi Financial by 113.5% during the first quarter. BNP Paribas Financial Markets now owns 82,130 shares of the bank’s stock worth $1,308,000 after purchasing an additional 43,662 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

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.