Hanmi Financial Co. (NASDAQ:HAFC – Get Free Report) gapped down prior to trading on Wednesday after Wedbush lowered their price target on the stock from $21.00 to $20.00. The stock had previously closed at $18.49, but opened at $17.93. Wedbush currently has a neutral rating on the stock. Hanmi Financial shares last traded at $17.36, with a volume of 66,935 shares trading hands.
Separately, StockNews.com assumed coverage on Hanmi Financial in a report on Thursday, October 5th. They issued a “hold” rating for the company.
Hedge Funds Weigh In On Hanmi Financial
Several institutional investors have recently added to or reduced their stakes in HAFC. The Manufacturers Life Insurance Company increased its position in Hanmi Financial by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,435 shares of the bank’s stock worth $186,000 after purchasing an additional 562 shares during the period. Sei Investments Co. increased its position in Hanmi Financial by 3.1% during the 2nd quarter. Sei Investments Co. now owns 21,327 shares of the bank’s stock worth $462,000 after purchasing an additional 633 shares during the period. Rhumbline Advisers increased its position in Hanmi Financial by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 89,228 shares of the bank’s stock worth $2,002,000 after purchasing an additional 856 shares during the period. Teacher Retirement System of Texas increased its position in Hanmi Financial by 3.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 28,605 shares of the bank’s stock worth $464,000 after purchasing an additional 933 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Hanmi Financial by 6.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,519 shares of the bank’s stock worth $268,000 after acquiring an additional 953 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.
Hanmi Financial Price Performance
The company has a 50 day moving average price of $18.31 and a 200 day moving average price of $17.31. The firm has a market cap of $525.75 million, a PE ratio of 5.90 and a beta of 1.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $66.08 million for the quarter, compared to analyst estimates of $62.67 million. Hanmi Financial had a return on equity of 13.66% and a net margin of 23.09%. On average, sell-side analysts expect that Hanmi Financial Co. will post 2.63 EPS for the current year.
Hanmi Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend was Friday, November 3rd. Hanmi Financial’s dividend payout ratio (DPR) is 34.01%.
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, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.