Hanmi Financial (NASDAQ:HAFC) Price Target Increased to $22.00 by Analysts at DA Davidson

Hanmi Financial (NASDAQ:HAFC - Free Report) had its price target upped by DA Davidson from $20.00 to $22.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the bank's stock.

A number of other equities research analysts have also issued reports on the company. Wedbush restated a "neutral" rating and issued a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday. Keefe, Bruyette & Woods upgraded Hanmi Financial from a "market perform" rating to an "outperform" rating and upped their price target for the company from $20.00 to $22.00 in a research report on Wednesday, October 2nd.

Hanmi Financial Price Performance

NASDAQ:HAFC traded up $1.43 during trading hours on Wednesday, hitting $21.56. 588,108 shares of the stock were exchanged, compared to its average volume of 232,855. Hanmi Financial has a 52-week low of $13.87 and a 52-week high of $21.64. The firm's fifty day moving average price is $19.20 and its 200 day moving average price is $17.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a market cap of $655.14 million, a P/E ratio of 8.98 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 return on equity of 9.66% and a net margin of 15.84%. During the same period in the prior year, the business earned $0.62 earnings per share. As a group, equities research analysts anticipate that Hanmi Financial will post 1.97 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 4.64%. Hanmi Financial's payout ratio is 41.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position in Hanmi Financial by 66.5% in the third quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank's stock worth $7,352,000 after acquiring an additional 157,792 shares during the period. CWM LLC grew its position in Hanmi Financial by 71.8% in the third quarter. CWM LLC now owns 29,184 shares of the bank's stock worth $543,000 after acquiring an additional 12,193 shares during the period. SG Americas Securities LLC grew its position in Hanmi Financial by 49.1% in the third quarter. SG Americas Securities LLC now owns 28,746 shares of the bank's stock worth $535,000 after acquiring an additional 9,465 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in Hanmi Financial by 47.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank's stock worth $63,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Hanmi Financial during the second quarter worth $534,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

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.