Hanmi Financial (NASDAQ:HAFC) Shares Gap Down – Time to Sell?

Hanmi Financial Co. (NASDAQ:HAFC)’s share price 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.

Wall Street Analyst Weigh In

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

Hanmi Financial Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. The company has a market cap of $681.83 million, a P/E ratio of 11.01 and a beta of 0.87. The firm’s 50-day simple moving average is $23.32 and its 200 day simple moving average is $22.87.

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

Hanmi Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were paid a dividend of $0.27 per share. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. This represents a $1.08 annualized dividend and a yield of 4.78%. Hanmi Financial’s dividend payout ratio (DPR) is presently 52.68%.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Hanmi Financial by 227.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock worth $25,000 after buying an additional 747 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Hanmi Financial during the third quarter worth about $28,000. R Squared Ltd bought a new position in shares of Hanmi Financial during the 4th quarter valued at about $43,000. Versant Capital Management Inc grew its position in shares of Hanmi Financial by 110.7% in the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,035 shares during the period. Finally, Quantbot Technologies LP increased its stake in Hanmi Financial by 5,858.5% during the 4th quarter. Quantbot Technologies LP now owns 2,443 shares of the bank’s stock worth $58,000 after purchasing an additional 2,402 shares in the last quarter. 88.66% of the stock is currently 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.