Hanmi Financial (NASDAQ:HAFC) Stock Rating Upgraded by Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a neutral rating to a buy rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

A number of other brokerages also recently issued reports on HAFC. Piper Sandler upgraded shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, DA Davidson lifted their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.63.

Hanmi Financial Stock Up 1.2 %

Shares of NASDAQ:HAFC traded up $0.30 during trading on Friday, hitting $25.65. The company’s stock had a trading volume of 200,025 shares, compared to its average volume of 233,744. Hanmi Financial has a fifty-two week low of $14.45 and a fifty-two week high of $26.30. The business has a 50 day moving average price of $20.87 and a two-hundred day moving average price of $18.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. The company has a market capitalization of $774.63 million, a PE ratio of 12.33 and a beta of 0.84.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, research analysts expect that Hanmi Financial will post 2.01 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, November 4th. Hanmi Financial’s dividend payout ratio (DPR) is 48.08%.

Institutional Trading of Hanmi Financial

A number of large investors have recently made changes to their positions in HAFC. Vanguard Group Inc. raised its position in Hanmi Financial by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock valued at $35,903,000 after purchasing an additional 58,097 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Hanmi Financial by 32.2% during the second quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock worth $17,937,000 after buying an additional 261,545 shares during the period. FMR LLC increased its position in Hanmi Financial by 26.1% in the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after acquiring an additional 182,164 shares during the period. American Century Companies Inc. increased its position in Hanmi Financial by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock valued at $9,667,000 after acquiring an additional 82,087 shares during the period. Finally, Stieven Capital Advisors L.P. raised its stake in Hanmi Financial by 20.6% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock valued at $10,622,000 after acquiring an additional 97,500 shares during the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

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.