Hanmi Financial (NASDAQ:HAFC) Reaches New 52-Week High – What’s Next?

Hanmi Financial Co. (NASDAQ:HAFC)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $26.32 and last traded at $26.21, with a volume of 26344 shares changing hands. The stock had previously closed at $25.75.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HAFC shares. DA Davidson increased their target price on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Piper Sandler upgraded shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.63.

Hanmi Financial Stock Up 3.1 %

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 firm has a market capitalization of $801.81 million, a PE ratio of 12.76 and a beta of 0.84. The company has a fifty day moving average price of $21.59 and a 200-day moving average price of $18.90.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The company had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. As a group, analysts expect that Hanmi Financial Co. will post 2 earnings per share for the current year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.77%. Hanmi Financial’s dividend payout ratio is currently 48.08%.

Institutional Investors Weigh In On Hanmi Financial

Several institutional investors have recently modified their holdings of HAFC. Point72 DIFC Ltd bought a new stake in shares of Hanmi Financial in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in Hanmi Financial in the 3rd quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after purchasing an additional 1,207 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Hanmi Financial during the second quarter valued at approximately $168,000. Finally, EMC Capital Management grew its stake in shares of Hanmi Financial by 8.9% during the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock valued at $187,000 after buying an additional 958 shares during the last quarter. 88.66% of the stock is owned by 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.