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

Hanmi Financial Co. (NASDAQ:HAFC) shares gapped down prior to trading 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.

Analysts Set New Price Targets

HAFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $29.00 price objective (up 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 price target on shares of Hanmi Financial in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.75.

Hanmi Financial Price Performance

The stock’s fifty day moving average is $23.32 and its 200-day 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. The stock has a market capitalization of $694.51 million, a P/E ratio of 11.20 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

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

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently made changes to their positions in HAFC. Dimensional Fund Advisors LP boosted its stake in Hanmi Financial by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,776,133 shares of the bank’s stock valued at $41,952,000 after purchasing an additional 31,634 shares during the period. LSV Asset Management grew its stake in shares of Hanmi Financial by 4.2% in the fourth quarter. LSV Asset Management now owns 1,183,181 shares of the bank’s stock worth $27,947,000 after acquiring an additional 47,700 shares during the last quarter. FMR LLC increased its position in Hanmi Financial by 26.1% during the third quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after acquiring an additional 182,164 shares during the period. JPMorgan Chase & Co. raised its stake in Hanmi Financial by 71.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock valued at $15,552,000 after purchasing an additional 349,339 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Hanmi Financial by 13.0% in the 4th quarter. American Century Companies Inc. now owns 743,466 shares of the bank’s stock valued at $17,561,000 after purchasing an additional 85,425 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

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.