Hanmi Financial (NASDAQ:HAFC) Shares Gap Down – What’s Next?

Hanmi Financial Co. (NASDAQ:HAFC)’s stock price gapped down before the market opened 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 traded.

Analysts Set New Price Targets

Several brokerages recently commented on HAFC. DA Davidson restated a “neutral” rating and set a $27.50 target price on shares of Hanmi Financial in a report on Thursday, January 30th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.75.

Hanmi Financial Trading Down 1.2 %

The stock has a market cap of $681.83 million, a price-to-earnings ratio of 11.01 and a beta of 0.87. The business’s 50 day simple moving average is $23.32 and its 200 day simple moving average is $22.87. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. On average, research analysts expect that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.78%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. Hanmi Financial’s payout ratio is 52.68%.

Institutional Trading of Hanmi Financial

A number of hedge funds have recently modified their holdings of HAFC. Victory Capital Management Inc. boosted its holdings in shares of Hanmi Financial by 85.0% during the third quarter. Victory Capital Management Inc. now owns 24,435 shares of the bank’s stock worth $454,000 after acquiring an additional 11,230 shares during the period. Intech Investment Management LLC grew its holdings in Hanmi Financial by 1.1% in the 3rd quarter. Intech Investment Management LLC now owns 37,706 shares of the bank’s stock valued at $701,000 after buying an additional 414 shares in the last quarter. Cerity Partners LLC increased its position in Hanmi Financial by 60.1% during the third quarter. Cerity Partners LLC now owns 34,910 shares of the bank’s stock worth $649,000 after acquiring an additional 13,109 shares during the period. FMR LLC grew its position in shares of Hanmi Financial by 26.1% during the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after purchasing an additional 182,164 shares in the last quarter. Finally, PEAK6 Investments LLC bought a new position in shares of Hanmi Financial during the third quarter worth approximately $309,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

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.