Hanmi Financial (HAFC) Lifted to Hold at BidaskClub

Hanmi Financial (NASDAQ:HAFC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

HAFC has been the topic of several other reports. Zacks Investment Research raised Hanmi Financial from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Monday, January 1st. ValuEngine lowered Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Keefe, Bruyette & Woods set a $28.00 target price on Hanmi Financial and gave the stock a “hold” rating in a research report on Saturday, October 7th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.00 target price on shares of Hanmi Financial in a research report on Friday, October 6th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $33.00.

Shares of Hanmi Financial (HAFC) opened at $31.95 on Friday. Hanmi Financial has a 52-week low of $25.45 and a 52-week high of $35.55. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $973.90, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Hanmi Financial had a return on equity of 10.60% and a net margin of 24.54%. The firm had revenue of $53.74 million for the quarter, compared to analyst estimates of $53.30 million. During the same period last year, the company earned $0.41 earnings per share. equities analysts anticipate that Hanmi Financial will post 1.81 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Hanmi Financial by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,112 shares of the bank’s stock worth $145,000 after purchasing an additional 765 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Hanmi Financial in the third quarter worth $218,000. Aperio Group LLC bought a new position in shares of Hanmi Financial in the third quarter worth $233,000. Janney Capital Management LLC bought a new position in shares of Hanmi Financial in the third quarter worth $258,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Hanmi Financial by 51.4% in the second quarter. BNP Paribas Arbitrage SA now owns 9,529 shares of the bank’s stock worth $271,000 after purchasing an additional 3,235 shares in the last quarter. 89.95% of the stock is owned by institutional investors.

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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.

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