Hanmi Financial (NASDAQ:HAFC) Reaches New 1-Year High - What's Next?

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report)'s stock price reached a new 52-week high on Friday . The company 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.

Analyst Ratings Changes

A number of research analysts recently commented on the company. DA Davidson raised their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a "market perform" rating to an "outperform" rating and raised their target price for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Piper Sandler raised shares of Hanmi Financial from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Janney Montgomery Scott raised shares of Hanmi Financial from a "neutral" rating to a "buy" rating in a research note on Friday, November 15th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $21.00 target price on shares of Hanmi Financial in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.63.

Hanmi Financial Stock Performance

The company's 50 day moving average is $21.59 and its 200 day moving average is $18.90. The firm has a market cap of $801.81 million, a P/E ratio of 12.76 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The company had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. During the same quarter last year, the business posted $0.62 EPS. As a group, equities analysts predict that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a dividend of $0.25 per share. 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 presently 48.08%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Intech Investment Management LLC raised its holdings in Hanmi Financial by 1.1% during the 3rd quarter. Intech Investment Management LLC now owns 37,706 shares of the bank's stock worth $701,000 after purchasing an additional 414 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Hanmi Financial by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank's stock worth $193,000 after buying an additional 911 shares during the last quarter. EMC Capital Management lifted its holdings in Hanmi Financial by 8.9% in 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 period. Royce & Associates LP grew its holdings in Hanmi Financial by 0.6% during the 3rd quarter. Royce & Associates LP now owns 192,802 shares of the bank's stock worth $3,586,000 after acquiring an additional 1,089 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Hanmi Financial by 47.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank's stock worth $63,000 after acquiring an additional 1,207 shares in the last quarter. 88.66% of the stock is owned by institutional investors.

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.