Hanmi Financial’s (HAFC) Neutral Rating Reaffirmed at Wedbush

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “neutral” rating reiterated by Wedbush in a report released on Wednesday, Benzinga reports. They presently have a $17.00 target price on the bank’s stock. Wedbush’s price target indicates a potential upside of 8.70% from the company’s current price.

Separately, Keefe, Bruyette & Woods decreased their price objective on Hanmi Financial from $20.00 to $18.50 and set a “market perform” rating for the company in a report on Wednesday, January 24th.

Hanmi Financial Stock Performance

Shares of HAFC opened at $15.64 on Wednesday. The stock has a 50 day moving average price of $15.23 and a 200 day moving average price of $16.45. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $473.58 million, a price-to-earnings ratio of 5.97 and a beta of 0.95. Hanmi Financial has a 52-week low of $13.35 and a 52-week high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million. Hanmi Financial had a return on equity of 11.88% and a net margin of 19.84%. Research analysts predict that Hanmi Financial will post 2.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Hanmi Financial

Several large investors have recently modified their holdings of the company. Summit Global Investments purchased a new stake in shares of Hanmi Financial during the third quarter worth approximately $270,000. Strs Ohio purchased a new stake in shares of Hanmi Financial during the third quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Hanmi Financial by 6.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,519 shares of the bank’s stock worth $268,000 after purchasing an additional 953 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Hanmi Financial by 3.4% during the third quarter. Teacher Retirement System of Texas now owns 28,605 shares of the bank’s stock worth $464,000 after purchasing an additional 933 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Hanmi Financial during the third quarter worth approximately $265,000. 88.66% 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.