Hanmi Financial’s (HAFC) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “market perform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $29.00 price objective on the bank’s stock, up from their previous price objective of $24.00. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 13.81% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Wedbush restated a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, DA Davidson lifted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Hanmi Financial has an average rating of “Hold” and an average target price of $24.38.

Hanmi Financial Price Performance

Shares of HAFC opened at $25.48 on Wednesday. The business’s 50-day moving average is $22.90 and its two-hundred day moving average is $19.52. The company has a market capitalization of $769.50 million, a P/E ratio of 12.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. Hanmi Financial has a fifty-two week low of $14.45 and a fifty-two week high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The firm had revenue of $108.86 million for the quarter, compared to analysts’ expectations of $59.23 million. During the same period last year, the firm earned $0.62 EPS. Research analysts predict that Hanmi Financial will post 2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Hanmi Financial by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock worth $35,903,000 after purchasing an additional 58,097 shares in the last quarter. AQR Capital Management LLC lifted its stake in Hanmi Financial by 32.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock worth $17,937,000 after purchasing an additional 261,545 shares in the last quarter. FMR LLC raised its position in shares of Hanmi Financial by 26.1% during the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after buying an additional 182,164 shares during the period. American Century Companies Inc. raised its position in shares of Hanmi Financial by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock valued at $9,667,000 after buying an additional 82,087 shares during the period. Finally, Stieven Capital Advisors L.P. raised its position in shares of Hanmi Financial by 20.6% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock valued at $10,622,000 after buying an additional 97,500 shares during the period. 88.66% of the stock is owned by hedge funds and other institutional investors.

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.