Hanmi Financial (NASDAQ:HAFC) Earns Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report sent to investors on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $18.00 target price on the bank’s stock, down from their previous target price of $18.50.

Separately, Wedbush restated a neutral rating and issued a $17.00 target price on shares of Hanmi Financial in a research report on Wednesday.

Hanmi Financial Stock Performance

Shares of Hanmi Financial stock opened at $15.14 on Wednesday. Hanmi Financial has a fifty-two week low of $13.35 and a fifty-two week high of $20.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market capitalization of $458.44 million, a P/E ratio of 6.31 and a beta of 0.95. The company’s 50 day moving average price is $15.23 and its two-hundred day moving average price is $16.44.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.80%. The firm had revenue of $59.82 million for the quarter, compared to analyst estimates of $63.43 million. On average, equities analysts forecast that Hanmi Financial will post 2.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanmi Financial

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Hanmi Financial by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock valued at $17,584,000 after acquiring an additional 4,756 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Hanmi Financial by 151.2% during the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after buying an additional 266,949 shares during the last quarter. AQR Capital Management LLC raised its stake in Hanmi Financial by 59.9% during the third quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock worth $6,311,000 after buying an additional 145,703 shares during the last quarter. American Century Companies Inc. raised its stake in Hanmi Financial by 10.8% during the third quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock worth $5,825,000 after buying an additional 35,104 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Hanmi Financial by 2,264.9% during the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after buying an additional 228,365 shares during the last quarter. Institutional investors own 88.66% 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.