Hanmi Financial (NASDAQ:HAFC) Stock Rating Reaffirmed by Wedbush

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “neutral” rating restated by stock analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They currently have a $21.00 price target on the bank’s stock. Wedbush’s price target suggests a potential downside of 8.85% from the stock’s current price.

A number of other brokerages have also weighed in on HAFC. DA Davidson increased their target price on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd.

Hanmi Financial Stock Up 6.9 %

Hanmi Financial stock opened at $23.04 on Wednesday. The firm has a 50 day moving average price of $19.35 and a 200-day moving average price of $17.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. Hanmi Financial has a twelve month low of $13.87 and a twelve month high of $23.14. The company has a market capitalization of $700.12 million, a P/E ratio of 9.60 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. The business had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. During the same period last year, the business posted $0.62 earnings per share. As a group, equities analysts predict that Hanmi Financial will post 1.97 EPS for the current year.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently modified their holdings of HAFC. The Manufacturers Life Insurance Company grew its position in Hanmi Financial by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after buying an additional 911 shares in the last quarter. EMC Capital Management boosted its position in shares of Hanmi Financial by 8.9% during the 1st quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock valued at $187,000 after acquiring an additional 958 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Hanmi Financial by 47.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after purchasing an additional 1,207 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Hanmi Financial by 10.9% in the first 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. Finally, O Shaughnessy Asset Management LLC lifted its position in Hanmi Financial by 3.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 54,423 shares of the bank’s stock valued at $866,000 after purchasing an additional 2,004 shares during the last quarter. 88.66% of the stock is currently owned by 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.