Hanmi Financial (NASDAQ:HAFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Hanmi Financial Corporation is the holding company for Hanmi Bank, one of the leading banks providing services to the multi-ethnic communities of Southern California with full service offices. Hanmi Bank is a business bank conducting a general community banking business, with its primary market encompassing multi-ethnic small business customers. The bank specializes in commercial, SBA, trade finance, and consumer lending and is a recognized community leader serving the diverse communities throughout Southern California. (PRESS RELEASE) “
A number of other research analysts have also recently issued reports on the stock. BidaskClub raised shares of Hanmi Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price target on shares of Hanmi Financial in a research report on Friday, December 22nd. Finally, ValuEngine cut shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $33.00.
Shares of Hanmi Financial (NASDAQ:HAFC) traded up $0.25 during midday trading on Wednesday, reaching $31.50. 106,000 shares of the company were exchanged, compared to its average volume of 172,577. Hanmi Financial has a one year low of $25.45 and a one year high of $34.55. The stock has a market cap of $1,013.49, a PE ratio of 17.17, a P/E/G ratio of 1.69 and a beta of 0.63. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.01 and a current ratio of 1.02.
Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Hanmi Financial had a net margin of 22.52% and a return on equity of 10.59%. The company had revenue of $54.03 million during the quarter, compared to analysts’ expectations of $54.53 million. research analysts anticipate that Hanmi Financial will post 2.31 earnings per share for the current year.
In other news, Director John J. Ahn acquired 3,000 shares of Hanmi Financial stock in a transaction on Friday, January 26th. The stock was acquired at an average cost of $31.56 per share, for a total transaction of $94,680.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.91% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan increased its stake in 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 valued at $376,000 after purchasing an additional 4,530 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Hanmi Financial by 88.5% in the second quarter. Parametric Portfolio Associates LLC now owns 64,766 shares of the bank’s stock worth $1,843,000 after acquiring an additional 30,416 shares during the period. State Street Corp grew its stake in shares of Hanmi Financial by 2.7% in the second quarter. State Street Corp now owns 1,041,986 shares of the bank’s stock worth $29,643,000 after acquiring an additional 27,444 shares during the period. Teachers Advisors LLC grew its stake in shares of Hanmi Financial by 10.1% in the second quarter. Teachers Advisors LLC now owns 64,084 shares of the bank’s stock worth $1,823,000 after acquiring an additional 5,885 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Hanmi Financial by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,019,495 shares of the bank’s stock worth $62,503,000 after acquiring an additional 10,659 shares during the period. Institutional investors and hedge funds own 89.28% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/02/16/hanmi-financial-hafc-stock-rating-lowered-by-zacks-investment-research.html.
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.
Receive News & Ratings for Hanmi Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial and related companies with MarketBeat.com's FREE daily email newsletter.