Hanmi Financial (NASDAQ:HAFC) Share Price Crosses Above 200-Day Moving Average of $16.24

Hanmi Financial Co. (NASDAQ:HAFC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.24 and traded as high as $16.69. Hanmi Financial shares last traded at $16.23, with a volume of 72,001 shares traded.

Wall Street Analyst Weigh In

HAFC has been the subject of a number of recent research reports. Wedbush reissued a “neutral” rating and set a $17.00 price target on shares of Hanmi Financial in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 target price (down previously from $18.50) on shares of Hanmi Financial in a report on Wednesday, April 24th.

Hanmi Financial Price Performance

The company has a market capitalization of $493.23 million, a price-to-earnings ratio of 6.76 and a beta of 0.90. The stock has a fifty day simple moving average of $15.82 and a 200-day simple moving average of $16.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Hanmi Financial had a return on equity of 10.70% and a net margin of 17.63%. The firm had revenue of $58.39 million for the quarter, compared to analysts’ expectations of $58.83 million. On average, equities research analysts anticipate that Hanmi Financial Co. will post 2.02 EPS for the current year.

Hanmi Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Monday, May 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 6.16%. Hanmi Financial’s dividend payout ratio is presently 41.67%.

Hedge Funds Weigh In On Hanmi Financial

A number of hedge funds have recently bought and sold shares of HAFC. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Hanmi Financial by 5.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,340 shares of the bank’s stock worth $336,000 after buying an additional 821 shares during the period. EMC Capital Management raised its position in Hanmi Financial by 8.9% during the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $187,000 after acquiring an additional 958 shares during the period. Victory Capital Management Inc. raised its position in Hanmi Financial by 13.4% during the fourth quarter. Victory Capital Management Inc. now owns 11,833 shares of the bank’s stock worth $230,000 after acquiring an additional 1,399 shares during the period. GAMMA Investing LLC purchased a new position in Hanmi Financial during the fourth quarter valued at $30,000. Finally, CWM LLC grew its position in shares of Hanmi Financial by 291.6% in the fourth quarter. CWM LLC now owns 2,232 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,662 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.