Hanmi Financial (NASDAQ:HAFC) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “market perform” rating reissued by analysts at Keefe, Bruyette & Woods in a note issued to investors on Wednesday, Benzinga reports. They presently have a $18.00 target price on the bank’s stock, down from their previous target price of $18.50. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 15.16% from the company’s current price.

Separately, Wedbush reaffirmed a “neutral” rating and set a $17.00 target price on shares of Hanmi Financial in a research report on Wednesday.

Hanmi Financial Stock Performance

Hanmi Financial stock opened at $15.63 on Wednesday. The business has a 50 day moving average of $15.23 and a 200-day moving average of $16.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.00. Hanmi Financial has a 1 year low of $13.35 and a 1 year high of $20.31. The company has a market capitalization of $473.28 million, a P/E ratio of 6.51 and a beta of 0.95.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.80%. On average, equities research analysts predict that Hanmi Financial will post 2.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Hanmi Financial by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after buying an additional 4,756 shares during the period. Assenagon Asset Management S.A. grew its holdings in Hanmi Financial by 151.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after acquiring an additional 266,949 shares during the period. AQR Capital Management LLC raised its position in shares of Hanmi Financial by 59.9% in the 3rd quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock worth $6,311,000 after acquiring an additional 145,703 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Hanmi Financial by 10.8% in the 3rd quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock valued at $5,825,000 after purchasing an additional 35,104 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Hanmi Financial by 2,264.9% during the 4th quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock valued at $4,671,000 after purchasing an additional 228,365 shares in the last quarter. Institutional investors and hedge funds 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.