Hanmi Financial (NASDAQ:HAFC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
A number of other brokerages also recently commented on HAFC. Zacks Investment Research raised shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Monday, January 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $32.00 price objective on shares of Hanmi Financial in a research report on Friday, December 22nd. ValuEngine downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $31.00 price objective on shares of Hanmi Financial in a research report on Friday, October 6th. 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. Hanmi Financial presently has an average rating of “Buy” and an average target price of $33.00.
Hanmi Financial (NASDAQ:HAFC) traded up $0.55 during trading on Friday, reaching $31.95. 161,500 shares of the company were exchanged, compared to its average volume of 146,967. The company has a market capitalization of $1,035.47, a P/E ratio of 17.85, a P/E/G ratio of 1.85 and a beta of 0.79. Hanmi Financial has a 1-year low of $25.45 and a 1-year high of $35.55. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41.
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 last year, the firm earned $0.41 earnings per share. analysts predict that Hanmi Financial will post 1.81 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its position in shares of Hanmi Financial by 88.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 64,766 shares of the bank’s stock valued at $1,843,000 after acquiring an additional 30,416 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Hanmi Financial by 59.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,160 shares of the bank’s stock worth $376,000 after buying an additional 4,530 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Hanmi Financial by 10.1% during the 2nd quarter. Teachers Advisors LLC now owns 64,084 shares of the bank’s stock worth $1,823,000 after buying an additional 5,885 shares during the last quarter. State Street Corp lifted its stake in shares of Hanmi Financial by 2.7% during the 2nd quarter. State Street Corp now owns 1,041,986 shares of the bank’s stock worth $29,643,000 after buying an additional 27,444 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Hanmi Financial by 1.1% during the 2nd quarter. Northern Trust Corp now owns 633,215 shares of the bank’s stock worth $18,015,000 after buying an additional 6,879 shares during 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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