Hanmi Financial (NASDAQ:HAFC) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a sell rating in a research report sent to investors on Friday, January 5th.

Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Hanmi Financial from a buy rating to a hold rating in a research report on Thursday, November 9th. Zacks Investment Research raised shares of Hanmi Financial from a sell rating to a hold rating in a research report on Tuesday, December 19th. Piper Jaffray Companies reaffirmed a hold rating and set a $31.00 price objective on shares of Hanmi Financial in a research report on Friday, October 6th. Finally, Keefe, Bruyette & Woods set a $28.00 price objective on shares of Hanmi Financial and gave the stock a hold rating in a research report on Saturday, October 7th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $33.00.

Hanmi Financial (HAFC) traded up $0.55 during trading hours on Friday, reaching $31.95. 161,546 shares of the company’s stock were exchanged, compared to its average volume of 153,024. The firm has a market cap of $1,040.00, a P/E ratio of 17.95, a PEG ratio of 1.82 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.00 and a quick ratio of 1.00. Hanmi Financial has a twelve month low of $25.45 and a twelve month high of $35.55.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $53.74 million during the quarter, compared to the consensus estimate of $53.30 million. Hanmi Financial had a net margin of 24.54% and a return on equity of 10.60%. During the same quarter in the prior year, the firm posted $0.41 EPS. research analysts expect that Hanmi Financial will post 1.81 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Hanmi Financial by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,200 shares of the bank’s stock worth $688,000 after purchasing an additional 360 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Hanmi Financial by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 223,715 shares of the bank’s stock worth $6,365,000 after purchasing an additional 651 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Hanmi Financial by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,112 shares of the bank’s stock worth $145,000 after purchasing an additional 765 shares in the last quarter. Stevens Capital Management LP lifted its holdings in shares of Hanmi Financial by 7.8% in the 2nd quarter. Stevens Capital Management LP now owns 14,141 shares of the bank’s stock worth $402,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Hanmi Financial by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 149,276 shares of the bank’s stock worth $4,247,000 after purchasing an additional 1,367 shares in the last quarter. 89.95% of the stock is owned by institutional investors.

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Hanmi Financial Company Profile

Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.

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