Hanmi Financial (NASDAQ:HAFC) Hits New 1-Year High – Time to Buy?

Hanmi Financial Co. (NASDAQ:HAFC) hit a new 52-week high on Wednesday . The stock traded as high as $25.54 and last traded at $25.54, with a volume of 31027 shares trading hands. The stock had previously closed at $22.96.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HAFC shares. Keefe, Bruyette & Woods upgraded Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. DA Davidson boosted their price objective on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reiterated a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd.

Hanmi Financial Trading Up 12.5 %

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 stock has a market cap of $781.57 million, a P/E ratio of 11.04 and a beta of 0.84. The stock has a 50-day moving average price of $19.91 and a 200-day moving average price of $18.04.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same period in the previous year, the business posted $0.62 earnings per share. On average, equities research analysts expect that Hanmi Financial Co. will post 2.01 EPS for the current year.

Hanmi Financial Dividend Announcement

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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.87%. Hanmi Financial’s dividend payout ratio (DPR) is presently 48.08%.

Institutional Investors Weigh In On Hanmi Financial

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Hanmi Financial by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after purchasing an additional 1,730 shares during the last quarter. BNP Paribas Financial Markets grew its position in Hanmi Financial by 113.5% during the first quarter. BNP Paribas Financial Markets now owns 82,130 shares of the bank’s stock valued at $1,308,000 after acquiring an additional 43,662 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Hanmi Financial by 244.3% during the first quarter. Quantbot Technologies LP now owns 13,374 shares of the bank’s stock worth $213,000 after acquiring an additional 9,490 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Hanmi Financial by 7.9% during the first quarter. Empowered Funds LLC now owns 64,196 shares of the bank’s stock worth $1,022,000 after acquiring an additional 4,725 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Hanmi Financial in the 1st quarter worth approximately $171,000. Hedge funds and other institutional investors 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.