Hanmi Financial (NASDAQ:HAFC) Rating Reiterated by Wedbush

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a report issued on Wednesday, Benzinga reports. They currently have a $17.00 price objective on the bank’s stock. Wedbush’s target price indicates a potential upside of 8.77% from the company’s current price. Wedbush also issued estimates for Hanmi Financial’s Q3 2024 earnings at $0.59 EPS and Q4 2024 earnings at $0.57 EPS.

Separately, Keefe, Bruyette & Woods cut their price target on shares of Hanmi Financial from $20.00 to $18.50 and set a “market perform” rating for the company in a report on Wednesday, January 24th.

Hanmi Financial Stock Performance

HAFC opened at $15.63 on Wednesday. The stock has a market cap of $473.28 million, a P/E ratio of 6.51 and a beta of 0.95. The firm has a fifty day moving average price of $15.23 and a 200 day moving average price of $16.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 1.00. Hanmi Financial has a 1 year low of $13.35 and a 1 year high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $59.82 million during the quarter, compared to analyst estimates of $63.43 million. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.70%. Equities research analysts anticipate that Hanmi Financial will post 2.1 earnings per share for the current year.

Institutional Investors Weigh In On Hanmi Financial

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Hanmi Financial by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after buying an additional 4,756 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Hanmi Financial by 151.2% during the first 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. AQR Capital Management LLC grew its holdings in shares of Hanmi Financial by 59.9% during the third quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock worth $6,311,000 after buying an additional 145,703 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Hanmi Financial by 10.8% during the third quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock worth $5,825,000 after buying an additional 35,104 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Hanmi Financial by 2,264.9% during the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after buying an additional 228,365 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.