Hanmi Financial Corporation (HAFC) Downgraded to Hold at ValuEngine
Hanmi Financial Corporation (NASDAQ:HAFC) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other brokerages also recently commented on HAFC. Zacks Investment Research raised shares of Hanmi Financial Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.00 price target on shares of Hanmi Financial Corporation in a report on Friday, October 6th. Keefe, Bruyette & Woods set a $28.00 price target on shares of Hanmi Financial Corporation and gave the company a “hold” rating in a report on Saturday, October 7th. Finally, BidaskClub downgraded shares of Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.00.
Hanmi Financial Corporation (HAFC) opened at $29.15 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.00 and a quick ratio of 1.00. Hanmi Financial Corporation has a 1-year low of $24.20 and a 1-year high of $35.85. The company has a market cap of $962.67, a PE ratio of 16.97, a P/E/G ratio of 2.11 and a beta of 0.78.
Hanmi Financial Corporation (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 17th. The bank reported $0.46 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.46. Hanmi Financial Corporation had a net margin of 24.54% and a return on equity of 10.60%. The firm had revenue of $53.74 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter last year, the firm earned $0.41 EPS. research analysts expect that Hanmi Financial Corporation will post 1.81 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. CIBC World Markets Inc. purchased a new stake in Hanmi Financial Corporation in the 2nd quarter worth about $1,211,000. Vanguard Group Inc. raised its position in Hanmi Financial Corporation by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 1,661,914 shares of the bank’s stock worth $51,104,000 after purchasing an additional 83,123 shares during the period. Bank of America Corp DE raised its position in Hanmi Financial Corporation by 81.4% in the 1st quarter. Bank of America Corp DE now owns 55,523 shares of the bank’s stock worth $1,707,000 after purchasing an additional 24,912 shares during the period. Marshall Wace North America L.P. purchased a new stake in Hanmi Financial Corporation in the 2nd quarter worth about $519,000. Finally, Thrivent Financial For Lutherans raised its position in Hanmi Financial Corporation by 2.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,145,173 shares of the bank’s stock worth $32,580,000 after purchasing an additional 30,130 shares during the period. 88.49% of the stock is currently owned by institutional investors.
About Hanmi Financial Corporation
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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