Hanmi Financial (NASDAQ:HAFC) Shares Gap Down – Here’s Why

Hanmi Financial Co. (NASDAQ:HAFC) shares 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 changing hands.

Analyst Ratings Changes

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

Hanmi Financial Trading Up 0.5 %

The stock has a market cap of $694.51 million, a P/E ratio of 11.20 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 $22.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 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, analysts expect that Hanmi Financial Co. will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a $0.27 dividend. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.08 annualized dividend and a dividend yield of 4.70%. Hanmi Financial’s dividend payout ratio is presently 52.68%.

Hedge Funds Weigh In On Hanmi Financial

Several institutional investors have recently added to or reduced their stakes in HAFC. Intech Investment Management LLC increased its holdings in shares of Hanmi Financial by 1.1% during the third quarter. Intech Investment Management LLC now owns 37,706 shares of the bank’s stock worth $701,000 after buying an additional 414 shares in the last quarter. Point72 Asset Management L.P. raised its position in Hanmi Financial by 6.6% in the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank’s stock valued at $201,000 after purchasing an additional 527 shares during the last quarter. Cresset Asset Management LLC boosted its stake in Hanmi Financial by 0.9% in the fourth quarter. Cresset Asset Management LLC now owns 56,990 shares of the bank’s stock worth $1,346,000 after purchasing an additional 535 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Hanmi Financial by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,112 shares of the bank’s stock valued at $404,000 after buying an additional 547 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Hanmi Financial by 0.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 176,354 shares of the bank’s stock worth $4,165,000 after purchasing an additional 677 shares in the last quarter. 88.66% of the stock is owned by institutional investors.

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.