Zacks Investment Research Upgrades Hanmi Financial (HAFC) to “Hold”
Hanmi Financial (NASDAQ:HAFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Hanmi Financial Corporation is the holding company for Hanmi Bank, one of the leading banks providing services to the multi-ethnic communities of Southern California with full service offices. Hanmi Bank is a business bank conducting a general community banking business, with its primary market encompassing multi-ethnic small business customers. The bank specializes in commercial, SBA, trade finance, and consumer lending and is a recognized community leader serving the diverse communities throughout Southern California. (PRESS RELEASE) “
Several other research firms have also recently weighed in on HAFC. Piper Jaffray Companies restated a “hold” rating and issued a $31.00 price target on shares of Hanmi Financial in a research note on Friday, October 6th. BidaskClub lowered Hanmi Financial from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. ValuEngine lowered Hanmi Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Keefe, Bruyette & Woods set a $28.00 price objective on Hanmi Financial and gave the stock a “hold” rating in a report on Saturday, October 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.00.
Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Hanmi Financial had a return on equity of 10.60% and a net margin of 24.54%. The firm had revenue of $53.74 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. research analysts expect that Hanmi Financial will post 1.81 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of HAFC. Victory Capital Management Inc. grew its holdings in Hanmi Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,112 shares of the bank’s stock valued at $145,000 after purchasing an additional 765 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Hanmi Financial by 4.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,630 shares of the bank’s stock valued at $217,000 after purchasing an additional 300 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Hanmi Financial during the third quarter valued at about $218,000. Airain ltd bought a new stake in Hanmi Financial during the second quarter valued at about $226,000. Finally, Aperio Group LLC bought a new stake in Hanmi Financial during the third quarter valued at about $233,000. 89.95% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Upgrades Hanmi Financial (HAFC) to “Hold”” was published by Watch List News and is owned by of Watch List News. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://www.watchlistnews.com/zacks-investment-research-upgrades-hanmi-financial-hafc-to-hold/1776115.html.
Hanmi Financial Company Profile
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.
Receive News & Ratings for Hanmi Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial and related companies with MarketBeat.com's FREE daily email newsletter.