Hanmi Financial (HAFC) Downgraded to “Market Perform” at Raymond James

Raymond James downgraded shares of Hanmi Financial (NASDAQ:HAFC) from an outperform rating to a market perform rating in a research report sent to investors on Monday, MarketBeat.com reports.

HAFC has been the subject of several other reports. BidaskClub upgraded shares of Hanmi Financial from a strong sell rating to a sell rating in a research note on Tuesday, October 30th. ValuEngine downgraded shares of Hanmi Financial from a sell rating to a strong sell rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Hanmi Financial from a sell rating to a hold rating in a research note on Friday, December 28th. TheStreet downgraded shares of Hanmi Financial from a b- rating to a c+ rating in a research note on Thursday, October 18th. Finally, Piper Jaffray Companies set a $28.00 price objective on shares of Hanmi Financial and gave the stock a hold rating in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of Hold and a consensus price target of $27.33.

Shares of HAFC opened at $20.78 on Monday. The company has a market capitalization of $654.36 million, a price-to-earnings ratio of 11.48, a PEG ratio of 1.18 and a beta of 0.94. Hanmi Financial has a twelve month low of $17.56 and a twelve month high of $32.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.02 and a quick ratio of 1.02.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). The firm had revenue of $51.54 million during the quarter, compared to analyst estimates of $53.60 million. Hanmi Financial had a net margin of 22.82% and a return on equity of 10.92%. On average, equities analysts predict that Hanmi Financial will post 1.94 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of HAFC. American Century Companies Inc. acquired a new position in Hanmi Financial during the second quarter valued at $220,000. Dynamic Technology Lab Private Ltd acquired a new position in Hanmi Financial during the second quarter valued at $225,000. Tower Research Capital LLC TRC acquired a new position in Hanmi Financial during the second quarter valued at $227,000. WBI Investments Inc. acquired a new position in Hanmi Financial during the third quarter valued at $277,000. Finally, Russell Investments Group Ltd. acquired a new position in Hanmi Financial during the second quarter valued at $491,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Hanmi Financial Company Profile

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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