Hanmi Financial (NASDAQ:HAFC) Rating Reiterated by Wedbush

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “neutral” rating restated by equities researchers at Wedbush in a report issued on Wednesday, Benzinga reports. They presently have a $17.00 price target on the bank’s stock. Wedbush’s price objective would suggest a potential upside of 8.77% from the company’s current price. Wedbush also issued estimates for Hanmi Financial’s Q3 2024 earnings at $0.59 EPS and Q4 2024 earnings at $0.57 EPS.

Separately, Keefe, Bruyette & Woods decreased their price target 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 $15.63 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The firm has a market cap of $473.28 million, a PE ratio of 6.51 and a beta of 0.95. The company’s 50 day simple moving average is $15.23 and its 200-day simple moving average is $16.44. Hanmi Financial has a 12-month low of $13.35 and a 12-month high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $59.82 million for the quarter, compared to analyst estimates of $63.43 million. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.70%. As a group, equities analysts predict that Hanmi Financial will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Hanmi Financial by 151.2% during the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after purchasing an additional 266,949 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Hanmi Financial by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after acquiring an additional 1,730 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Hanmi Financial by 18.6% in the first quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock valued at $308,000 after acquiring an additional 3,030 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Hanmi Financial by 90.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after acquiring an additional 2,441 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Hanmi Financial by 48.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 40,743 shares of the bank’s stock valued at $790,000 after acquiring an additional 13,297 shares during the period. 88.66% of the stock is 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.