BidaskClub upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a strong sell rating to a sell rating in a research report report published on Tuesday, October 30th.
Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Hanmi Financial from a hold rating to a sell rating in a research report on Monday, July 2nd. Zacks Investment Research raised shares of Hanmi Financial from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Monday, July 23rd. Raymond James reduced their price objective on shares of Hanmi Financial from $32.00 to $29.00 and set an outperform rating for the company in a research report on Monday, July 30th. Piper Jaffray Companies reaffirmed a hold rating and issued a $29.00 price objective on shares of Hanmi Financial in a research report on Wednesday, July 25th. Finally, TheStreet downgraded shares of Hanmi Financial from a b- rating to a c+ rating in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $28.50.
HAFC stock traded up $0.03 during midday trading on Tuesday, hitting $21.30. The stock had a trading volume of 182,135 shares, compared to its average volume of 338,080. Hanmi Financial has a 1-year low of $17.56 and a 1-year high of $33.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a market cap of $675.97 million, a price-to-earnings ratio of 11.77, a PEG ratio of 1.37 and a beta of 0.94.
Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Hanmi Financial had a net margin of 22.82% and a return on equity of 10.92%. The company had revenue of $51.54 million during the quarter, compared to the consensus estimate of $53.60 million. Research analysts expect that Hanmi Financial will post 1.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Friday, November 2nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Thursday, November 1st. Hanmi Financial’s payout ratio is 53.04%.
Hanmi Financial declared that its board has authorized a share buyback plan on Thursday, August 30th that authorizes the company to repurchase 1,600,000 outstanding shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAFC. Principal Financial Group Inc. boosted its stake in Hanmi Financial by 3.3% in the first quarter. Principal Financial Group Inc. now owns 266,108 shares of the bank’s stock valued at $8,183,000 after acquiring an additional 8,547 shares during the last quarter. UBS Group AG lifted its stake in shares of Hanmi Financial by 7.1% during the 1st quarter. UBS Group AG now owns 117,558 shares of the bank’s stock valued at $3,615,000 after buying an additional 7,759 shares in the last quarter. Barclays PLC lifted its stake in shares of Hanmi Financial by 27.7% during the 1st quarter. Barclays PLC now owns 12,222 shares of the bank’s stock valued at $376,000 after buying an additional 2,653 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Hanmi Financial during the 1st quarter valued at approximately $208,000. Finally, Millennium Management LLC lifted its stake in shares of Hanmi Financial by 26.5% during the 1st quarter. Millennium Management LLC now owns 573,555 shares of the bank’s stock valued at $17,637,000 after buying an additional 120,190 shares in the last quarter. Hedge funds and other institutional investors own 90.28% 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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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