BidaskClub cut shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a sell rating in a research note issued to investors on Friday.
Several other brokerages have also recently issued reports on HAFC. Piper Jaffray Companies set a $31.00 price objective on shares of Hanmi Financial and gave the stock a hold rating in a research note on Wednesday, April 25th. Zacks Investment Research raised shares of Hanmi Financial from a sell rating to a hold rating in a research note on Thursday, May 24th. FIG Partners raised shares of Hanmi Financial from a market-perform rating to an outperform rating in a research note on Monday, May 21st. ValuEngine cut shares of Hanmi Financial from a hold rating to a sell rating in a research note on Monday, July 2nd. Finally, Raymond James lowered their price objective on shares of Hanmi Financial from $35.00 to $32.00 and set an outperform rating on the stock in a research note on Thursday, April 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $32.50.
Hanmi Financial stock opened at $27.70 on Friday. The stock has a market cap of $900.17 million, a price-to-earnings ratio of 15.30, a P/E/G ratio of 1.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.03. Hanmi Financial has a 52 week low of $25.45 and a 52 week high of $33.10.
Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, April 24th. The bank reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.07). The company had revenue of $50.99 million for the quarter, compared to analyst estimates of $55.17 million. Hanmi Financial had a net margin of 22.44% and a return on equity of 10.67%. During the same period in the previous year, the business posted $0.43 EPS. research analysts forecast that Hanmi Financial will post 2.09 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of Hanmi Financial by 27.7% in the 1st quarter. Barclays PLC now owns 12,222 shares of the bank’s stock worth $376,000 after purchasing an additional 2,653 shares during the last quarter. Swiss National Bank grew its stake in shares of Hanmi Financial by 5.2% in the 1st quarter. Swiss National Bank now owns 56,500 shares of the bank’s stock worth $1,737,000 after purchasing an additional 2,800 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Hanmi Financial by 45.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,609 shares of the bank’s stock worth $295,000 after purchasing an additional 3,000 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Hanmi Financial by 1.9% in the 1st quarter. Wells Fargo & Company MN now owns 235,621 shares of the bank’s stock worth $7,245,000 after purchasing an additional 4,478 shares during the last quarter. Finally, Stevens Capital Management LP boosted its holdings in shares of Hanmi Financial by 40.3% in the first quarter. Stevens Capital Management LP now owns 15,756 shares of the bank’s stock worth $484,000 after buying an additional 4,526 shares during the period. 89.22% of the stock is currently owned by institutional investors.
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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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