Hanmi Financial (NASDAQ:HAFC) PT Raised to $22.00 at DA Davidson

Hanmi Financial (NASDAQ:HAFC) had its price target raised by DA Davidson from $20.00 to $22.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Hanmi Financial’s Q4 2024 earnings at $0.49 EPS.

A number of other brokerages have also recently commented on HAFC. Keefe, Bruyette & Woods raised 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. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday.

Hanmi Financial Stock Performance

Shares of HAFC stock opened at $21.94 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $664.12 million, a price-to-earnings ratio of 10.55 and a beta of 0.87. Hanmi Financial has a 52 week low of $14.00 and a 52 week high of $23.14. The firm’s 50-day simple moving average is $19.41 and its two-hundred day simple moving average is $17.60.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.97%. The company had revenue of $108.86 million for the quarter, compared to analysts’ expectations of $59.23 million. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, equities analysts forecast that Hanmi Financial will post 1.97 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Hanmi Financial’s payout ratio is 48.08%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC purchased a new stake in shares of Hanmi Financial in the third quarter worth about $220,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Hanmi Financial in the 3rd quarter worth approximately $349,000. Assenagon Asset Management S.A. boosted its holdings in Hanmi Financial by 66.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock valued at $7,352,000 after purchasing an additional 157,792 shares during the period. CWM LLC grew its position in shares of Hanmi Financial by 71.8% during the 3rd quarter. CWM LLC now owns 29,184 shares of the bank’s stock valued at $543,000 after purchasing an additional 12,193 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of 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 purchasing an additional 9,465 shares during the period. Institutional investors own 88.66% of the company’s stock.

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.