[Market Focus] Hana Financial Group Rallies Over 5% on Upward Target Price Revisions by Brokerages

The stock price of Hana Financial Group is showing strong performance on the domestic stock market on February 2. This is interpreted as the result of a series of upward revisions to target prices by securities firms, driven by expectations for shareholder returns such as dividends.

As of 10:08 a.m. on this day, Hana Financial Group was trading at 105,700 won per share, up 5.59% from the previous session. During the session, the stock price briefly surpassed the 108,000 won level, reaching a new all-time high.

This is seen as buying momentum resulting from multiple securities firms simultaneously raising their target prices. NH Investment & Securities raised its target price for Hana Financial Group by 5.1% to 143,000 won in a report released on this day. Analyst Jung Junseop maintained a "Buy" rating, stating, "Hana Financial Group is expected to achieve a shareholder return rate of 50% in 2026 through the repurchase and cancellation of approximately 1 trillion won worth of treasury shares." He added, "Both the scale of treasury shares and the tax benefits of dividends are expected to become more prominent in the second half of the year, showing a lower performance in the first half and a higher one in the second half."

Kiwoom Securities also raised its target price to 140,000 won. Analyst Kim Eungap of Kiwoom Securities said, "Consolidated net profit for 2025 increased by 7.1% year-on-year, surpassing 4 trillion won for the first time," and added, "With the expansion of cash dividends, the requirements for the separate taxation of dividend income have been met, and a reduction in dividends is expected in the future."

Kim Hyunsoo, an analyst at SangSangIn Securities, also raised the target price to 130,000 won, stating, "The requirements for the separate taxation of dividend income have been met through the fourth-quarter dividend, and there are sufficient resources for a reduced dividend, making the dividend policy attractive." He added, "This year's earnings growth will be led by non-banking affiliates. The non-banking sector is expected to see improved performance due to increased brokerage income from the revitalization of the stock market and Hana Securities' approval for issuance-based notes. Even with limited loan growth at the bank, a shift toward fee-based income and an active shareholder return policy are expected to drive a revaluation."

There was also an assessment that the stock remains undervalued. Kim Doha, an analyst at Hanwha Investment & Securities, raised the target price to 119,000 won, stating, "The stock is still in an undervalued range with a PBR of 0.56 times. Assuming a shareholder return rate of 50% from 2026, the company's earnings per share (EPS) is expected to increase by 8-9% year-on-year, and considering the current capital strength, even higher growth is possible."