Hanmi Financial (NASDAQ:HAFC) Sets New 1-Year High - Still a Buy?

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $21.38 and last traded at $21.23, with a volume of 38224 shares trading hands. The stock had previously closed at $20.13.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HAFC. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Wedbush reaffirmed a "neutral" rating and set a $21.00 price target on shares of Hanmi Financial in a report on Wednesday. Finally, DA Davidson lifted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a "neutral" rating in a research report on Wednesday.

Hanmi Financial Stock Up 7.1 %

The firm's 50-day simple moving average is $19.26 and its two-hundred day simple moving average is $17.52. The stock has a market cap of $655.14 million, a price-to-earnings ratio of 8.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting analysts' consensus estimates of $0.49. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. During the same quarter last year, the business posted $0.62 earnings per share. On average, sell-side analysts expect that Hanmi Financial Co. will post 1.97 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Monday, August 5th. Hanmi Financial's dividend payout ratio (DPR) is presently 41.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Hanmi Financial by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank's stock valued at $35,903,000 after acquiring an additional 58,097 shares during the last quarter. AQR Capital Management LLC boosted its position 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 worth $17,937,000 after purchasing an additional 261,545 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Hanmi Financial by 16.5% during the second quarter. American Century Companies Inc. now owns 578,155 shares of the bank's stock worth $9,667,000 after purchasing an additional 82,087 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 valued at $8,070,000 after purchasing an additional 201,789 shares during the last quarter. Finally, Stieven Capital Advisors L.P. lifted its stake in Hanmi Financial by 19.2% in the second quarter. Stieven Capital Advisors L.P. now owns 473,553 shares of the bank's stock valued at $7,918,000 after buying an additional 76,198 shares during the period. 88.66% of the stock is currently owned by institutional investors and hedge funds.

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.