Hanmi Financial (NASDAQ:HAFC) Raised to “Buy” at BidaskClub

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BidaskClub upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a buy rating in a research report report published on Thursday, BidAskClub reports.

A number of other research firms also recently weighed in on HAFC. Zacks Investment Research upgraded Hanmi Financial from a sell rating to a hold rating in a research report on Thursday, August 15th. ValuEngine upgraded Hanmi Financial from a sell rating to a hold rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Hanmi Financial presently has an average rating of Hold and a consensus target price of $21.50.

NASDAQ:HAFC opened at $19.92 on Thursday. The business has a 50 day moving average of $19.49 and a 200 day moving average of $19.80. The company has a market capitalization of $630.36 million, a price-to-earnings ratio of 10.48 and a beta of 1.19. Hanmi Financial has a 1-year low of $17.01 and a 1-year high of $24.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Friday, October 4th. The bank reported $0.09 earnings per share for the quarter. The company had revenue of $50.72 million during the quarter. Hanmi Financial had a return on equity of 7.77% and a net margin of 14.93%. As a group, sell-side analysts anticipate that Hanmi Financial will post 1.4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.96 annualized dividend and a yield of 4.82%. Hanmi Financial’s payout ratio is currently 50.53%.

A number of hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in Hanmi Financial by 1.2% in the third quarter. California State Teachers Retirement System now owns 47,207 shares of the bank’s stock valued at $887,000 after purchasing an additional 563 shares during the last quarter. Barclays PLC lifted its position in Hanmi Financial by 2.1% in the third quarter. Barclays PLC now owns 35,715 shares of the bank’s stock valued at $670,000 after purchasing an additional 728 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Hanmi Financial in the second quarter valued at approximately $34,000. Charles Schwab Investment Management Inc. lifted its position in Hanmi Financial by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 177,947 shares of the bank’s stock valued at $3,963,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Aperio Group LLC lifted its position in Hanmi Financial by 8.7% in the second quarter. Aperio Group LLC now owns 33,205 shares of the bank’s stock valued at $739,000 after purchasing an additional 2,663 shares during the last quarter. Hedge funds and other institutional investors own 88.70% 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. 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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