Hanmi Financial (NASDAQ:HAFC) Given Neutral Rating at Wedbush

Wedbush reissued their neutral rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $21.00 price target on the bank’s stock.

A number of other equities analysts have also recently issued reports on the stock. DA Davidson upped their price objective on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd.

Hanmi Financial Price Performance

Shares of NASDAQ:HAFC opened at $21.56 on Wednesday. The firm has a 50 day moving average of $19.26 and a 200-day moving average of $17.52. The stock has a market capitalization of $655.14 million, a PE ratio of 8.98 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Hanmi Financial has a 12 month low of $13.87 and a 12 month high of $21.64.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $108.86 million during the quarter, compared to analysts’ expectations of $59.23 million. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. During the same period in the previous year, the company earned $0.62 EPS. On average, equities research analysts predict that Hanmi Financial will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Hanmi Financial

A number of institutional investors have recently added to or reduced their stakes in HAFC. Point72 Asia Singapore Pte. Ltd. grew its holdings 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 acquiring an additional 1,207 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Hanmi Financial by 90.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after acquiring an additional 2,441 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Hanmi Financial by 278.4% during the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after acquiring an additional 6,242 shares during the last quarter. Marshall Wace LLP bought a new stake in Hanmi Financial during the 2nd quarter worth approximately $168,000. Finally, Entropy Technologies LP bought a new stake in Hanmi Financial during the 1st quarter worth approximately $171,000. 88.66% of the stock is currently 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.