Hanmi Financial (NASDAQ:HAFC) Raised to Buy at Wall Street Zen

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

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their target price on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Zacks Research upgraded Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hanmi Financial has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

Hanmi Financial Trading Down 0.3%

Shares of HAFC stock opened at $28.11 on Friday. Hanmi Financial has a fifty-two week low of $19.25 and a fifty-two week high of $28.53. The company has a 50 day moving average price of $26.16 and a 200 day moving average price of $24.90. The stock has a market capitalization of $841.89 million, a P/E ratio of 11.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 16.53% and a return on equity of 9.59%. Equities research analysts predict that Hanmi Financial will post 2.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Hanmi Financial

A number of institutional investors have recently added to or reduced their stakes in HAFC. Quarry LP raised its position in Hanmi Financial by 114.3% in the first quarter. Quarry LP now owns 1,830 shares of the bank’s stock valued at $41,000 after purchasing an additional 976 shares during the period. US Bancorp DE acquired a new stake in shares of Hanmi Financial in the first quarter valued at about $42,000. AlphaQuest LLC raised its holdings in shares of Hanmi Financial by 201.7% during the 3rd quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after buying an additional 1,198 shares during the period. EverSource Wealth Advisors LLC lifted its position in Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock worth $56,000 after acquiring an additional 1,764 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Hanmi Financial by 148.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after acquiring an additional 1,442 shares during the period. Hedge funds and other institutional investors 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.