Hanmi Financial (NASDAQ:HAFC) Rating Lowered to Hold at Wall Street Zen

Hanmi Financial (NASDAQ:HAFC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

HAFC has been the subject of several other reports. Keefe, Bruyette & Woods boosted their target price on Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, November 17th. Finally, Zacks Research raised shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Hanmi Financial Trading Up 3.0%

Shares of NASDAQ:HAFC opened at $27.26 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $816.57 million, a PE ratio of 11.41 and a beta of 0.75. Hanmi Financial has a 1 year low of $19.25 and a 1 year high of $27.61. The firm has a fifty day moving average price of $25.56 and a 200 day moving average price of $24.61.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The company had revenue of $70.96 million for the quarter, compared to analyst estimates of $67.80 million. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%. Analysts expect that Hanmi Financial will post 2.6 EPS for the current fiscal year.

Institutional Trading of Hanmi Financial

A number of hedge funds have recently modified their holdings of HAFC. LSV Asset Management increased its position in shares of Hanmi Financial by 3.0% during the second quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock valued at $34,983,000 after purchasing an additional 40,684 shares during the period. American Century Companies Inc. increased its holdings in Hanmi Financial by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock valued at $23,033,000 after buying an additional 60,876 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Hanmi Financial by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock worth $19,728,000 after acquiring an additional 21,157 shares during the period. Rhino Investment Partners Inc boosted its position in shares of Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after acquiring an additional 167,485 shares in the last quarter. Finally, Stieven Capital Advisors L.P. boosted its position in shares of Hanmi Financial by 4.3% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 634,676 shares of the bank’s stock valued at $15,670,000 after acquiring an additional 25,900 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

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.