Hanmi Financial (NASDAQ:HAFC) Price Target Raised to $22.00

Hanmi Financial (NASDAQ:HAFC) had its price target raised by DA Davidson from $20.00 to $22.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Hanmi Financial’s Q4 2024 earnings at $0.49 EPS.

Several other research firms also recently issued reports on HAFC. Keefe, Bruyette & Woods upgraded Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $21.94 on Wednesday. The firm has a 50-day moving average of $19.41 and a two-hundred day moving average of $17.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $664.12 million, a price-to-earnings ratio of 10.55 and a beta of 0.87. Hanmi Financial has a twelve month low of $14.00 and a twelve month high of $23.14.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The firm 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 8.97% and a net margin of 14.80%. During the same quarter in the previous year, the company earned $0.62 EPS. As a group, analysts expect that Hanmi Financial will post 1.97 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Hanmi Financial’s dividend payout ratio is 48.08%.

Hedge Funds Weigh In On Hanmi Financial

A number of large investors have recently made changes to their positions in HAFC. AQR Capital Management LLC increased its holdings in shares of Hanmi Financial by 32.2% in 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 during the period. Acadian Asset Management LLC increased its holdings in Hanmi Financial by 71.8% in the second quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after buying an additional 201,789 shares during the last quarter. Bank of Montreal Can acquired a new position in Hanmi Financial in the second quarter worth approximately $2,979,000. Assenagon Asset Management S.A. increased its holdings in Hanmi Financial by 66.5% in the third quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock worth $7,352,000 after buying an additional 157,792 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Hanmi Financial by 16.5% in the second quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock worth $9,667,000 after buying an additional 82,087 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

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.