Hanmi Financial (NASDAQ:HAFC) Shares Gap Down - Should You Sell?

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $22.89, but opened at $22.20. Hanmi Financial shares last traded at $22.75, with a volume of 54,705 shares.

Analysts Set New Price Targets

HAFC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. DA Davidson restated a "neutral" rating and issued a $27.50 target price on shares of Hanmi Financial in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $25.75.

Hanmi Financial Stock Up 0.4 %

The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $23.32 and a 200 day simple moving average of $22.93. The company has a market cap of $684.24 million, a P/E ratio of 11.05 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. On average, equities analysts anticipate that Hanmi Financial Co. will post 2.6 EPS for the current year.

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Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a $0.27 dividend. This is a positive change from Hanmi Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.77%. Hanmi Financial's payout ratio is presently 52.68%.

Institutional Investors Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Hanmi Financial by 17.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,154 shares of the bank's stock valued at $523,000 after buying an additional 3,367 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hanmi Financial during the 4th quarter worth about $3,108,000. Point72 Asset Management L.P. increased its position in Hanmi Financial by 6.6% during the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock valued at $201,000 after purchasing an additional 527 shares during the period. ProShare Advisors LLC bought a new stake in shares of Hanmi Financial in the 4th quarter valued at about $214,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hanmi Financial by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,112 shares of the bank's stock worth $404,000 after purchasing an additional 547 shares during the period. 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.