Hanmi Financial (NASDAQ:HAFC) Receives Neutral Rating from DA Davidson

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “neutral” rating reiterated by research analysts at DA Davidson in a research note issued on Thursday,Benzinga reports. They presently have a $27.50 price objective on the bank’s stock. DA Davidson’s price target would indicate a potential upside of 12.14% from the company’s current price.

A number of other research firms have also weighed in on HAFC. Wedbush reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.75.

Hanmi Financial Trading Down 0.1 %

Shares of NASDAQ HAFC traded down $0.02 during midday trading on Thursday, reaching $24.52. The company had a trading volume of 31,257 shares, compared to its average volume of 189,607. The firm’s fifty day moving average price is $24.21 and its 200-day moving average price is $21.68. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Hanmi Financial has a one year low of $14.45 and a one year high of $27.59. The stock has a market cap of $740.62 million, a PE ratio of 11.80 and a beta of 0.89.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. On average, equities research analysts anticipate that Hanmi Financial will post 2 earnings per share for the current year.

Hedge Funds Weigh In On Hanmi Financial

Institutional investors have recently bought and sold shares of the business. Savant Capital LLC boosted its stake in shares of Hanmi Financial by 4.4% in the fourth quarter. Savant Capital LLC now owns 18,243 shares of the bank’s stock worth $431,000 after buying an additional 776 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Hanmi Financial by 5.1% in the fourth quarter. Empowered Funds LLC now owns 108,704 shares of the bank’s stock valued at $2,568,000 after purchasing an additional 5,258 shares during the period. EMC Capital Management raised its stake in Hanmi Financial by 162.4% during the fourth quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $278,000 after purchasing an additional 7,284 shares during the period. R Squared Ltd acquired a new position in Hanmi Financial in the 4th quarter valued at about $43,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Hanmi Financial by 24.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,582 shares of the bank’s stock worth $415,000 after buying an additional 3,400 shares during the last quarter. 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.