Hanmi Financial (NASDAQ:HAFC) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage currently has $22.00 target price on the bank’s stock, up from their previous target price of $20.00.

Other equities research analysts have also recently issued reports about the stock. Wedbush lowered their price objective on shares of Hanmi Financial from $22.00 to $21.00 and set a neutral rating for the company in a research report on Tuesday, September 24th. DA Davidson lifted their price target on shares of Hanmi Financial from $18.00 to $21.00 and gave the company a neutral rating in a research note on Wednesday, July 24th.

Hanmi Financial Price Performance

HAFC opened at $18.80 on Wednesday. The business has a fifty day moving average of $18.95 and a 200 day moving average of $17.09. The stock has a market cap of $571.28 million, a P/E ratio of 7.83 and a beta of 0.87. The company has a quick ratio of 1.00, 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 $20.92.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, July 23rd. The bank reported $0.48 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 9.66% and a net margin of 15.84%. During the same period last year, the company earned $0.67 earnings per share. As a group, sell-side analysts anticipate that Hanmi Financial will post 1.98 EPS for the current year.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.32%. The ex-dividend date was Monday, August 5th. Hanmi Financial’s payout ratio is 41.67%.

Hedge Funds Weigh In On Hanmi Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in Hanmi Financial by 32.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock valued at $17,937,000 after purchasing an additional 261,545 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Hanmi Financial by 2,264.9% during the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock valued at $4,671,000 after buying an additional 228,365 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Hanmi Financial by 71.8% in the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock valued at $8,070,000 after acquiring an additional 201,789 shares during the period. Bank of Montreal Can purchased a new position in Hanmi Financial in the 2nd quarter worth $2,979,000. Finally, American Century Companies Inc. lifted its position in Hanmi Financial by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock worth $9,667,000 after acquiring an additional 82,087 shares during the period. 88.66% of the stock is owned by hedge funds and other institutional investors.

About Hanmi Financial

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.