Hanmi Financial Corporation (NASDAQ:HAFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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) “
Several other analysts have also recently issued reports on the stock. Piper Jaffray Companies reissued a “hold” rating and set a $31.00 price objective on shares of Hanmi Financial Corporation in a research note on Wednesday, July 12th. BidaskClub cut shares of Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.00.
Shares of Hanmi Financial Corporation (NASDAQ:HAFC) opened at 26.80 on Wednesday. The company has a market capitalization of $859.93 million, a price-to-earnings ratio of 15.58 and a beta of 0.79. Hanmi Financial Corporation has a 52 week low of $22.76 and a 52 week high of $35.85. The company’s 50 day moving average price is $28.06 and its 200-day moving average price is $29.43.
Hanmi Financial Corporation (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, July 18th. The bank reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Hanmi Financial Corporation had a net margin of 24.79% and a return on equity of 10.41%. The company had revenue of $52.88 million during the quarter, compared to analysts’ expectations of $50.85 million. During the same period in the previous year, the company earned $0.44 EPS. Analysts anticipate that Hanmi Financial Corporation will post $1.82 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in HAFC. BlackRock Inc. boosted its stake in shares of Hanmi Financial Corporation by 48,878.9% in the first quarter. BlackRock Inc. now owns 3,983,942 shares of the bank’s stock worth $122,506,000 after buying an additional 3,975,808 shares during the period. FMR LLC boosted its stake in shares of Hanmi Financial Corporation by 16.7% in the second quarter. FMR LLC now owns 1,576,609 shares of the bank’s stock worth $44,855,000 after buying an additional 226,110 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Hanmi Financial Corporation during the first quarter worth $5,485,000. LSV Asset Management boosted its stake in shares of Hanmi Financial Corporation by 14.4% in the second quarter. LSV Asset Management now owns 1,086,094 shares of the bank’s stock worth $30,899,000 after buying an additional 136,400 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Hanmi Financial Corporation by 27.6% in the first quarter. Bank of New York Mellon Corp now owns 608,774 shares of the bank’s stock worth $18,720,000 after buying an additional 131,614 shares during the period. 87.14% of the stock is owned by hedge funds and other institutional investors.
About Hanmi Financial Corporation
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 Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
