Hanmi Financial (NASDAQ:HAFC) Raised to Buy at Wall Street Zen

by · The Markets Daily

Hanmi Financial (NASDAQ:HAFC – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research analysts have also issued reports on HAFC. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 1st. Keefe, Bruyette & Woods lifted their price target on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Finally, Zacks Research raised Hanmi Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.50.

Check Out Our Latest Report on Hanmi Financial

Hanmi Financial Price Performance

Shares of HAFC opened at $28.11 on Friday. Hanmi Financial has a 12 month low of $19.25 and a 12 month high of $28.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a fifty day moving average price of $26.16 and a 200 day moving average price of $24.92. The company has a market cap of $841.89 million, a P/E ratio of 11.76 and a beta of 0.75.

Hanmi Financial (NASDAQ:HAFC – Get Free Report) last posted its earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The company had revenue of $70.96 million for the quarter, compared to analysts’ expectations of $67.80 million. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%. On average, research analysts forecast that Hanmi Financial will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On Hanmi Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC raised its position in shares of Hanmi Financial by 57.7% during the third quarter. Mariner LLC now owns 22,685 shares of the bank’s stock worth $560,000 after purchasing an additional 8,302 shares during the period. Citadel Advisors LLC increased its stake in Hanmi Financial by 2.5% in the 3rd quarter. Citadel Advisors LLC now owns 59,509 shares of the bank’s stock worth $1,469,000 after purchasing an additional 1,436 shares in the last quarter. Bank of America Corp DE raised its holdings in Hanmi Financial by 16.2% during the 3rd quarter. Bank of America Corp DE now owns 92,696 shares of the bank’s stock worth $2,289,000 after buying an additional 12,916 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Hanmi Financial during the 3rd quarter worth about $669,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Hanmi Financial by 58.2% in the third quarter. Two Sigma Investments LP now owns 143,837 shares of the bank’s stock worth $3,551,000 after buying an additional 52,918 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Company Profile

(Get Free Report)

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

See Also