Hanmi Financial (NASDAQ:HAFC) Upgraded at Keefe, Bruyette & Woods

Hanmi Financial (NASDAQ:HAFC) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, Briefing.com reports. The firm presently has a $22.00 price target on the bank’s stock, up from their prior price target of $20.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 22.02% from the company’s current price.

A number of other research analysts have also recently commented on HAFC. DA Davidson raised their price objective on Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Wedbush decreased their price target on shares of Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Hanmi Financial Price Performance

Shares of NASDAQ:HAFC opened at $18.03 on Wednesday. The stock has a market cap of $547.88 million, a PE ratio of 7.51 and a beta of 0.88. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average is $19.03 and its 200 day moving average is $17.04. Hanmi Financial has a 52 week low of $13.87 and a 52 week high of $20.92.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $106.72 million for the quarter, compared to analysts’ expectations of $59.07 million. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. During the same quarter in the prior year, the company earned $0.67 earnings per share. Research analysts anticipate that Hanmi Financial will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Hanmi Financial by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock valued at $193,000 after buying an additional 911 shares in the last quarter. EMC Capital Management lifted its holdings in shares of Hanmi Financial by 8.9% during the 1st quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock valued at $187,000 after purchasing an additional 958 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after buying an additional 1,207 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Hanmi Financial by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after buying an additional 1,730 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Hanmi Financial by 3.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 54,423 shares of the bank’s stock worth $866,000 after acquiring an additional 2,004 shares in the last quarter. Institutional investors own 88.66% 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.