Hanmi Financial (NASDAQ:HAFC) Hits New 12-Month High Following Dividend Announcement

Hanmi Financial Co. (NASDAQ:HAFC)’s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $23.43 and last traded at $22.87, with a volume of 254886 shares changing hands. The stock had previously closed at $23.14.

The newly announced dividend which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.70%. The ex-dividend date is Monday, May 5th. Hanmi Financial’s dividend payout ratio is 50.70%.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a “neutral” rating and set a $27.50 target price on shares of Hanmi Financial in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.75.

Hanmi Financial Price Performance

The firm has a 50 day moving average price of $22.19 and a two-hundred day moving average price of $23.36. The company has a market cap of $693.81 million, a P/E ratio of 11.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, April 22nd. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. The firm had revenue of $62.82 million during the quarter, compared to analyst estimates of $63.45 million. On average, analysts predict that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of Hanmi Financial by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock worth $25,000 after acquiring an additional 747 shares during the period. GAMMA Investing LLC lifted its holdings in Hanmi Financial by 91.4% during the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank’s stock worth $32,000 after purchasing an additional 681 shares in the last quarter. Curat Global LLC bought a new position in Hanmi Financial in the 1st quarter worth about $42,000. R Squared Ltd purchased a new position in Hanmi Financial during the 4th quarter valued at about $43,000. Finally, Versant Capital Management Inc increased its position in shares of Hanmi Financial by 110.7% during the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after buying an additional 1,035 shares during the period. 88.66% of the stock is currently owned by hedge funds and other 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.