Hanmi Financial (NASDAQ:HAFC) Downgraded by BidaskClub

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

A number of other analysts have also recently issued reports on the company. DA Davidson cut Hanmi Financial from a buy rating to a neutral rating and lowered their price objective for the company from $27.00 to $21.50 in a research report on Monday, August 12th. Zacks Investment Research upgraded Hanmi Financial from a sell rating to a hold rating in a research report on Thursday, August 15th. TheStreet cut Hanmi Financial from a b- rating to a c+ rating in a research report on Monday, August 12th. Finally, ValuEngine upgraded Hanmi Financial from a sell rating to a hold rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, Hanmi Financial presently has a consensus rating of Hold and an average price target of $21.50.

Shares of HAFC traded up $0.14 on Friday, reaching $19.83. 9,279 shares of the stock traded hands, compared to its average volume of 157,051. The firm has a market cap of $601.89 million, a price-to-earnings ratio of 10.43 and a beta of 1.17. 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 has a 12 month low of $17.01 and a 12 month high of $24.18. The stock’s 50-day moving average price is $18.75 and its 200-day moving average price is $20.21.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07). The firm had revenue of $50.92 million for the quarter, compared to the consensus estimate of $50.96 million. Hanmi Financial had a net margin of 14.93% and a return on equity of 7.77%. As a group, equities research analysts forecast that Hanmi Financial will post 1.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Friday, November 1st. Hanmi Financial’s dividend payout ratio is presently 50.53%.

A number of large investors have recently made changes to their positions in the business. FMR LLC grew its position in Hanmi Financial by 6.5% in the first 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 period. Massachusetts Financial Services Co. MA grew its position in Hanmi Financial by 13.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,826,963 shares of the bank’s stock valued at $34,310,000 after acquiring an additional 221,218 shares during the period. Northern Trust Corp grew its position in Hanmi Financial by 1.4% in the second quarter. Northern Trust Corp now owns 413,074 shares of the bank’s stock valued at $9,198,000 after acquiring an additional 5,560 shares during the period. Nuveen Asset Management LLC bought a new stake in Hanmi Financial in the second quarter valued at $8,240,000. Finally, Invesco Ltd. grew its position in Hanmi Financial by 10.9% in the second quarter. Invesco Ltd. now owns 287,404 shares of the bank’s stock valued at $6,400,000 after acquiring an additional 28,159 shares during the period. Hedge funds and other institutional investors own 86.84% 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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