Hanmi Financial (NASDAQ:HAFC) Upgraded at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat Ratings reports.

Several other equities analysts also recently commented on the stock. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $25.50 in a research note on Thursday, October 24th. DA Davidson upped their price target on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

Hanmi Financial Price Performance

HAFC stock opened at $25.65 on Friday. The firm has a market cap of $774.63 million, a P/E ratio of 12.33 and a beta of 0.84. The firm’s fifty day moving average is $20.87 and its 200 day moving average is $18.58. Hanmi Financial has a 52 week low of $14.45 and a 52 week high of $26.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The firm 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 8.87% and a net margin of 14.80%. During the same quarter in the previous year, the business earned $0.62 earnings per share. Research analysts predict that Hanmi Financial will post 2 earnings per share for the current year.

Hanmi Financial Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.90%. Hanmi Financial’s payout ratio is 48.08%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HAFC. Point72 DIFC Ltd bought a new position in Hanmi Financial in the third quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Hanmi Financial in the 3rd quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Hanmi Financial by 47.0% in 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. EntryPoint Capital LLC lifted its position in Hanmi Financial by 278.4% during the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock valued at $135,000 after acquiring an additional 6,242 shares during the period. Finally, Marshall Wace LLP bought a new stake in Hanmi Financial during the second quarter worth about $168,000. Institutional investors 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.