Hanmi Financial (NASDAQ:HAFC) Given Neutral Rating at Brean Capital

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “neutral” rating reissued by research analysts at Brean Capital in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $32.00 price target on the bank’s stock. Brean Capital’s price objective points to a potential upside of 7.33% from the stock’s previous close.

A number of other equities analysts have also recently commented on HAFC. Keefe, Bruyette & Woods lifted their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. DA Davidson reissued a “neutral” rating and issued a $29.50 price objective on shares of Hanmi Financial in a research report on Thursday, January 29th. Finally, Piper Sandler lifted their target price on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hanmi Financial currently has an average rating of “Hold” and a consensus target price of $32.10.

Hanmi Financial Stock Performance

Shares of HAFC traded down $0.66 during mid-day trading on Thursday, reaching $29.82. The company’s stock had a trading volume of 20,011 shares, compared to its average volume of 284,487. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. Hanmi Financial has a 1-year low of $22.00 and a 1-year high of $31.33. The business has a 50-day simple moving average of $28.33 and a two-hundred day simple moving average of $27.74. The stock has a market cap of $887.47 million, a P/E ratio of 11.13 and a beta of 0.73.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The business had revenue of $134.95 million for the quarter, compared to analyst estimates of $71.40 million. As a group, equities research analysts anticipate that Hanmi Financial will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the transaction, the insider owned 34,002 shares in the company, valued at $1,048,281.66. This trade represents a 8.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hanmi Financial

Several institutional investors and hedge funds have recently modified their holdings of HAFC. Assetmark Inc. increased its position in Hanmi Financial by 35,033.3% during the first quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock worth $28,000 after acquiring an additional 1,051 shares during the period. AlphaQuest LLC boosted its holdings in Hanmi Financial by 201.7% in the 3rd quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after purchasing an additional 1,198 shares during the period. Royal Bank of Canada boosted its holdings in Hanmi Financial by 30.5% in the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after purchasing an additional 439 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock worth $56,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Hanmi Financial by 148.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after buying an additional 1,442 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

About Hanmi Financial

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.