Hanmi Financial (NASDAQ:HAFC) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report report published on Wednesday, Benzinga reports. They currently have a $18.00 price target on the bank’s stock, down from their prior price target of $18.50.

Separately, Wedbush reiterated a neutral rating and issued a $17.00 target price on shares of Hanmi Financial in a report on Wednesday.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $15.82 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 1.00. The firm has a market capitalization of $479.03 million, a price-to-earnings ratio of 6.59 and a beta of 0.95. The company’s 50-day moving average is $15.24 and its two-hundred day moving average is $16.44. Hanmi Financial has a 1-year low of $13.35 and a 1-year high of $20.31.

Hanmi Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 6.32%. Hanmi Financial’s dividend payout ratio is currently 41.67%.

Hedge Funds Weigh In On Hanmi Financial

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its holdings in Hanmi Financial by 151.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after buying an additional 266,949 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Hanmi Financial by 10.9% in 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. Los Angeles Capital Management LLC raised its holdings in shares of Hanmi Financial by 18.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock valued at $308,000 after purchasing an additional 3,030 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,441 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of Hanmi Financial by 48.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 40,743 shares of the bank’s stock valued at $790,000 after purchasing an additional 13,297 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.