Hanmi Financial (NASDAQ:HAFC) Rating Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of Hanmi Financial (NASDAQ:HAFC) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Other analysts also recently issued reports about the stock. TheStreet downgraded shares of Hanmi Financial from a b- rating to a c+ rating in a research report on Monday, August 12th. DA Davidson downgraded shares of Hanmi Financial from a buy rating to a neutral rating and decreased their target price for the stock from $27.00 to $21.50 in a research report on Monday, August 12th. BidaskClub downgraded shares of Hanmi Financial from a hold rating to a sell rating in a research report on Thursday, August 15th. Finally, Zacks Investment Research raised shares of Hanmi Financial from a sell rating to a hold rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Hanmi Financial has a consensus rating of Hold and a consensus price target of $24.17.

HAFC stock opened at $17.33 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $557.63 million, a price-to-earnings ratio of 9.39 and a beta of 1.10. Hanmi Financial has a 12 month low of $17.24 and a 12 month high of $26.92. The firm has a 50 day moving average of $20.56 and a two-hundred day moving average of $21.74.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 9th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Thursday, August 8th. Hanmi Financial’s dividend payout ratio is currently 50.53%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Hanmi Financial by 6.5% during the 1st quarter. FMR LLC now owns 2,561,110 shares of the bank’s stock worth $54,475,000 after buying an additional 155,428 shares during the period. LSV Asset Management boosted its holdings in shares of Hanmi Financial by 1.2% during the 1st quarter. LSV Asset Management now owns 1,530,715 shares of the bank’s stock worth $32,558,000 after buying an additional 17,684 shares during the period. Boston Partners boosted its holdings in shares of Hanmi Financial by 2.5% during the 1st quarter. Boston Partners now owns 1,046,283 shares of the bank’s stock worth $22,255,000 after buying an additional 25,122 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Hanmi Financial by 1.4% during the 1st quarter. Systematic Financial Management LP now owns 577,350 shares of the bank’s stock worth $12,280,000 after buying an additional 7,925 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Hanmi Financial by 1.4% during the 2nd quarter. Northern Trust Corp now owns 413,074 shares of the bank’s stock worth $9,198,000 after buying an additional 5,560 shares during the period. 88.74% of the stock is owned by institutional investors and hedge funds.

About Hanmi Financial

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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