Hanmi Financial (NASDAQ:HAFC) Rating Reiterated by Wedbush

by · The Markets Daily

Hanmi Financial (NASDAQ:HAFC – Get Free Report)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $21.00 price target on the bank’s stock. Wedbush’s price objective would suggest a potential downside of 1.32% from the stock’s current price.

A number of other brokerages have also weighed in on HAFC. Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $20.00 to $22.00 in a research report on Wednesday, October 2nd. DA Davidson raised their target price on shares of Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th.

Check Out Our Latest Stock Analysis on HAFC

Hanmi Financial Price Performance

NASDAQ:HAFC traded up $1.15 during mid-day trading on Wednesday, reaching $21.28. The stock had a trading volume of 130,415 shares, compared to its average volume of 230,623. The stock has a 50-day simple moving average of $19.20 and a two-hundred day simple moving average of $17.49. The stock has a market capitalization of $646.64 million, a PE ratio of 8.87 and a beta of 0.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00. Hanmi Financial has a 12 month low of $13.87 and a 12 month high of $21.56.

Hanmi Financial (NASDAQ:HAFC – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The firm had revenue of $108.86 million for the quarter, compared to analyst estimates of $59.23 million. During the same quarter last year, the business posted $0.62 earnings per share. On average, equities analysts anticipate that Hanmi Financial will post 1.97 earnings per share for the current year.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds and other institutional investors have recently bought and sold shares of HAFC. Point72 Asia Singapore Pte. Ltd. increased its stake in Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after purchasing an additional 1,207 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Hanmi Financial by 90.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,441 shares in the last quarter. EntryPoint Capital LLC increased its stake in Hanmi Financial by 278.4% in the first quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock valued at $135,000 after purchasing an additional 6,242 shares in the last quarter. Marshall Wace LLP bought a new stake in Hanmi Financial in the second quarter valued at $168,000. Finally, Entropy Technologies LP bought a new stake in Hanmi Financial in the first quarter valued at $171,000. 88.66% of the stock is owned by institutional investors.

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.

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