Wedbush Raises Hanmi Financial (NASDAQ:HAFC) Price Target to $22.00

Hanmi Financial (NASDAQ:HAFC) had its target price raised by Wedbush from $17.00 to $22.00 in a research report report published on Wednesday morning, Benzinga reports. Wedbush currently has a neutral rating on the bank’s stock. Wedbush also issued estimates for Hanmi Financial’s Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.00 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $2.05 EPS.

HAFC has been the subject of a number of other reports. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $18.00 price target (down from $18.50) on shares of Hanmi Financial in a research note on Wednesday, April 24th. DA Davidson increased their price target on Hanmi Financial from $18.00 to $21.00 and gave the company a neutral rating in a research note on Wednesday.

Hanmi Financial Trading Up 2.0 %

Shares of HAFC stock opened at $20.51 on Wednesday. The stock’s fifty day moving average price is $16.60 and its two-hundred day moving average price is $16.11. The company has a market cap of $623.30 million, a PE ratio of 8.55 and a beta of 0.90. Hanmi Financial has a fifty-two week low of $13.87 and a fifty-two week high of $20.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.98 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. The company had revenue of $106.72 million during the quarter, compared to analysts’ expectations of $59.07 million. During the same period in the prior year, the company earned $0.67 EPS. Equities analysts predict that Hanmi Financial will post 1.99 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Monday, August 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Monday, August 5th. Hanmi Financial’s dividend payout ratio is currently 41.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in Hanmi Financial during the 4th quarter worth $30,000. Meeder Asset Management Inc. bought a new position in Hanmi Financial during the 4th quarter worth $37,000. Simplex Trading LLC raised its position in Hanmi Financial by 1,406.7% during the 4th quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock worth $39,000 after purchasing an additional 1,899 shares during the last quarter. CWM LLC raised its position in Hanmi Financial by 291.6% during the 4th quarter. CWM LLC now owns 2,232 shares of the bank’s stock worth $43,000 after purchasing an additional 1,662 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Hanmi Financial during the 4th quarter worth $46,000. 88.66% of the stock is owned by institutional investors.

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.