BlackRock Fund Advisors has recently announced that it has increased stake in Hanmi Financial Corporation (NASDAQ:HAFC) by 0.51%. After grabbing 4.28 million shares, the institutional investor is now in possession of 21522.0 shares of the Financial Company. The new investment brought the stake of investor firm to 14.03% having worth around $115.73 million. Moreover, Dimensional Fund Advisors LP increased its share by 67841.0 to have a control over 2.3 million shares. And The Vanguard Group, Inc. raised its holdings to 50096.0 shares by acquiring 2.11 million shares or 6.94% of the stake.
Hanmi Financial Corporation (HAFC) concluded trading on 01/12/23 at a closing price of $25.38, with 0.34 million shares of worth about $8.69 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 17.07% during that period and on Thursday the price saw a gain of about 2.55%. Currently the company’s common shares owned by public are about 30.31M shares, out of which, 30.08M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the HAFC stock and their offered price forecasts bring an average price target of $27.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $30.00 and could fall to a lowest price of $25.00. The stock’s current price level is 7.71% above of average price target set by the analysts, while a rise to estimated low would result in loss of -1.52% for the stock. However, touching the estimated high of $30.00 would mean a gain of 15.4% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 47 times over the past 12 months. They bought 77,467 shares in 26 of the transactions. In 21 selling transactions, insiders dumped 16,488 shares.
iShares Core S&P Small Cap ETF, MFS New Discovery Value Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Hanmi Financial Corporation iShares Core S&P Small Cap ETF is currently holding 2.05 million shares of worth totaling $55.37 million. The company recently came buying 0.0 shares which brought its stake up to 6.71% of the company’s outstanding shares. MFS New Discovery Value Fund sold 19419.0 shares, after which its hold over company’s outstanding shares shrunk to 4.10%, leaving 1.25 million shares with the mutual fund that have a worth of about $33.8 million. Vanguard Total Stock Market Index, after buying 0.96 million shares, have now control over 3.14% of the stake in the company. It holds 3529.0 shares of worth $25.88 million.
Hanmi Financial Corporation (NASDAQ: HAFC) started trading at $24.95, above $0.2 from concluding price of the previous day. However, the stock later moved at a day high price of 25.50, or with a gain of 2.55%. Stock saw a price change of 4.88% in past 5 days and over the past one month there was a price change of -0.12%. Year-to-date (YTD), HAFC shares are showing a performance of 2.55% which decreased to -1.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $21.35 but also hit the highest price of $28.84 during that period. The average intraday trading volume for Hanmi Financial Corporation shares is 136.69K. The stock is currently trading 3.47% above its 20-day simple moving average (SMA20), while that difference is down -0.34% for SMA50 and it goes to 3.90% higher than SMA200.
BlackRock Fund Advisors acquired 4.28 million shares of Hanmi Financial Corporation having value of about $115.73 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 21522.0 shares in the company valued at close to $546228.36, or have control over 0.51% stake in the company. Hanmi Financial Corporation (NASDAQ: HAFC) currently have 30.31M outstanding shares and institutions hold larger chunk of about 92.00% of that. Holding of mutual funds in the company is about 5.52% while other institutional holders and individual stake holders have control over 58.79% and 30.47% of the stake respectively.
The stock has a current market capitalization of $759.62M and its 3Y-monthly beta is at 1.02. PE ratio of stock for trailing 12 months is 7.31, while it has posted earnings per share of $3.47 in the same period. Its PEG reads 0.91 while making debt-to-equity ratio of 0.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HAFC, volatility over the week remained 1.97% while standing at 2.22% over the month.
Analysts are in expectations that Hanmi Financial Corporation (HAFC) stock would likely to be making an EPS of $0.81 in the current quarter, while forecast for next quarter EPS is $0.77 and it is $3.05 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.74 which is $0.88 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.09 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 133.80% while it is estimated to decrease by -2.48% in next year. EPS is likely to shrink at an annualized rate of 8.00% for next 5-years, compared to annual growth of 13.00% made by the stock over the past 5-years.
Analysts at 6 brokerage firms have issued recommendations for the Hanmi Financial Corporation (HAFC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 6 Wall Street analysts, 2 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by DA Davidson on May 18, 2022 offering a Neutral rating for the stock and assigned a target price of $25 to it. On January 27, 2021, Janney Upgrade their recommendations, while on October 06, 2020, Wedbush Initiated their ratings for the stock with a price target of $9. Stock get a Neutral rating from DA Davidson on August 12, 2019.