Hanmi Financial (NASDAQ:HAFC) Stock Price Down 4.6% – Time to Sell?

Hanmi Financial Co. (NASDAQ:HAFC)’s share price was down 4.6% during mid-day trading on Friday . The company traded as low as $21.98 and last traded at $21.98. Approximately 115,593 shares were traded during trading, a decline of 50% from the average daily volume of 232,769 shares. The stock had previously closed at $23.04.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $21.00 price target on shares of Hanmi Financial in a report on Wednesday. DA Davidson lifted their target price on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $25.50 in a report on Thursday. Finally, Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd.

Hanmi Financial Stock Down 4.8 %

The firm has a market cap of $664.12 million, a PE ratio of 10.55 and a beta of 0.87. The company has a 50-day simple moving average of $19.41 and a 200-day simple moving average of $17.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00.

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

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Monday, November 4th. Hanmi Financial’s payout ratio is presently 48.08%.

Institutional Investors Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in shares of Hanmi Financial by 90.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after acquiring an additional 2,441 shares during the period. Allspring Global Investments Holdings LLC raised its position in Hanmi Financial by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after purchasing an additional 1,730 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Hanmi Financial by 113.5% in the 1st 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. Quantbot Technologies LP lifted its holdings in shares of Hanmi Financial by 244.3% in the 1st quarter. Quantbot Technologies LP now owns 13,374 shares of the bank’s stock worth $213,000 after buying an additional 9,490 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Hanmi Financial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 64,196 shares of the bank’s stock worth $1,022,000 after buying an additional 4,725 shares in the last quarter. 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.