Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $23.29 and last traded at $23.28, with a volume of 7005 shares traded. The stock had previously closed at $22.93.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on HAFC. DA Davidson lifted their price target on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Wedbush reissued a "neutral" rating and set a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Piper Sandler upgraded Hanmi Financial from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upgraded Hanmi Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd.
Get Our Latest Research Report on HAFC
Hanmi Financial Stock Performance
The stock has a 50 day simple moving average of $19.57 and a 200 day simple moving average of $17.75. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a market cap of $707.11 million, a price-to-earnings ratio of 9.72 and a beta of 0.87.
Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.97%. During the same quarter last year, the company earned $0.62 earnings per share. As a group, analysts predict that Hanmi Financial Co. will post 1.97 EPS for the current year.
Hanmi Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, November 4th. Hanmi Financial's dividend payout ratio (DPR) is 41.67%.
Hedge Funds Weigh In On Hanmi Financial
A number of institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. grew its holdings in Hanmi Financial by 47.0% during 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. PNC Financial Services Group Inc. raised its stake in Hanmi Financial by 90.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank's stock valued at $100,000 after buying an additional 2,441 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in Hanmi Financial by 278.4% during the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank's stock worth $135,000 after buying an additional 6,242 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Hanmi Financial in the 2nd quarter worth approximately $168,000. Finally, Entropy Technologies LP bought a new stake in shares of Hanmi Financial in the 1st quarter valued at approximately $171,000. 88.66% of the stock is owned by institutional investors and hedge funds.
Hanmi Financial Company Profile
(
Get Free Report)
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.
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