Hanmi Financial (NASDAQ:HAFC) Downgraded by DA Davidson

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DA Davidson downgraded shares of Hanmi Financial (NASDAQ:HAFC) from a buy rating to a neutral rating in a research report sent to investors on Monday, BenzingaRatingsTable reports. They currently have $21.50 price target on the bank’s stock, down from their previous price target of $27.00. DA Davidson also issued estimates for Hanmi Financial’s Q2 2019 earnings at $0.51 EPS and FY2019 earnings at $2.01 EPS.

Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Hanmi Financial from a sell rating to a hold rating in a research report on Saturday, June 29th. Zacks Investment Research raised shares of Hanmi Financial from a sell rating to a hold rating in a report on Wednesday, August 7th. Finally, ValuEngine raised shares of Hanmi Financial from a strong sell rating to a sell rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $24.17.

NASDAQ:HAFC opened at $17.83 on Monday. The company has a market cap of $578.04 million, a PE ratio of 9.73, a P/E/G ratio of 1.12 and a beta of 1.10. Hanmi Financial has a twelve month low of $17.56 and a twelve month high of $26.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $21.21 and its two-hundred day moving average is $21.89.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 9th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.38%. The ex-dividend date is Thursday, August 8th. Hanmi Financial’s dividend payout ratio (DPR) is currently 50.53%.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Hanmi Financial by 6.5% in the 1st quarter. FMR LLC now owns 2,561,110 shares of the bank’s stock valued at $54,475,000 after acquiring an additional 155,428 shares during the last quarter. LSV Asset Management boosted its holdings in Hanmi Financial by 1.2% during the first 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 in the last quarter. Boston Partners boosted its holdings in Hanmi Financial by 2.5% during the first 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 in the last quarter. Systematic Financial Management LP boosted its holdings in Hanmi Financial by 1.4% during the first 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in Hanmi Financial by 1.4% during the second 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 in the last quarter. 88.19% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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