Hanmi Financial’s (HAFC) Neutral Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $21.00 target price on the bank’s stock. Wedbush also issued estimates for Hanmi Financial’s Q4 2024 earnings at $0.53 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.52 EPS and Q4 2025 earnings at $0.52 EPS.

A number of other research analysts have also weighed in on the stock. DA Davidson raised their target price on shares of Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of 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.

Hanmi Financial Stock Down 4.8 %

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

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

Hanmi Financial Announces Dividend

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

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently made changes to their positions in HAFC. PNC Financial Services Group Inc. grew its holdings in Hanmi Financial by 90.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,441 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Hanmi Financial by 18.6% during the first quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock valued at $308,000 after buying an additional 3,030 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Hanmi Financial by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after buying an additional 1,730 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Hanmi Financial by 113.5% in the first quarter. BNP Paribas Financial Markets now owns 82,130 shares of the bank’s stock worth $1,308,000 after buying an additional 43,662 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of Hanmi Financial by 244.3% during the 1st quarter. Quantbot Technologies LP now owns 13,374 shares of the bank’s stock worth $213,000 after acquiring an additional 9,490 shares during the last quarter. Hedge funds and other 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.