Hanmi Financial’s (HAFC) Hold Rating Reaffirmed at Keefe, Bruyette & Woods

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “hold” rating reissued by stock analysts at Keefe, Bruyette & Woods in a report issued on Friday, December 22nd. They currently have a $32.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 0.16% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $31.00 target price on shares of Hanmi Financial in a report on Friday, October 6th. ValuEngine raised Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, Zacks Investment Research raised Hanmi Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Hanmi Financial has a consensus rating of “Buy” and an average price target of $33.00.

Hanmi Financial (HAFC) traded up $0.55 during midday trading on Friday, hitting $31.95. 161,546 shares of the stock were exchanged, compared to its average volume of 157,016. The firm has a market capitalization of $1,035.47, a P/E ratio of 17.85, a PEG ratio of 1.85 and a beta of 0.79. Hanmi Financial has a 12 month low of $25.45 and a 12 month high of $35.55. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.41.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.46. Hanmi Financial had a net margin of 24.54% and a return on equity of 10.60%. The business had revenue of $53.74 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period in the previous year, the company earned $0.41 earnings per share. sell-side analysts predict that Hanmi Financial will post 1.81 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its position in Hanmi Financial by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 15,081 shares of the bank’s stock valued at $429,000 after purchasing an additional 39 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Hanmi Financial by 4.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,630 shares of the bank’s stock worth $217,000 after buying an additional 300 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Hanmi Financial by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,200 shares of the bank’s stock worth $688,000 after buying an additional 360 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Hanmi Financial by 0.8% during the 2nd quarter. Sei Investments Co. now owns 57,127 shares of the bank’s stock worth $1,625,000 after buying an additional 467 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Hanmi Financial by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 223,715 shares of the bank’s stock worth $6,365,000 after buying an additional 651 shares in the last quarter. 89.95% of the stock is owned by institutional investors and hedge funds.

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About Hanmi Financial

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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