Hanmi Financial (NASDAQ:HAFC) Rating Lowered to “Hold” at Wall Street Zen

Hanmi Financial (NASDAQ:HAFC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other brokerages have also issued reports on HAFC. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, November 17th. Zacks Research raised shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

Hanmi Financial Stock Down 0.1%

Hanmi Financial stock opened at $27.23 on Friday. The company has a market capitalization of $815.67 million, a PE ratio of 11.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97. Hanmi Financial has a fifty-two week low of $19.25 and a fifty-two week high of $27.61. The firm has a 50 day moving average price of $25.61 and a 200 day moving average price of $24.65.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $70.96 million during the quarter, compared to analyst estimates of $67.80 million. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%. Research analysts expect that Hanmi Financial will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAFC. AlphaQuest LLC increased its stake in Hanmi Financial by 201.7% in the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after purchasing an additional 1,198 shares during the last quarter. Quarry LP grew its position in shares of Hanmi Financial by 114.3% in the 1st quarter. Quarry LP now owns 1,830 shares of the bank’s stock valued at $41,000 after buying an additional 976 shares during the last quarter. US Bancorp DE acquired a new stake in Hanmi Financial during the 1st quarter worth $42,000. EverSource Wealth Advisors LLC raised its stake in Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock worth $56,000 after acquiring an additional 1,764 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Hanmi Financial by 148.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after acquiring an additional 1,442 shares during the last quarter. 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.