Hanmi Financial Corporation (NASDAQ:HAFC) Receives Average Rating of “Hold” from Brokerages

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) have received an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $28.50.

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research note on Wednesday, October 22nd. Finally, Zacks Research downgraded Hanmi Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management increased its stake in Hanmi Financial by 3.0% in 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 in the last quarter. American Century Companies Inc. grew its holdings in shares of 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 increased its position in shares of Hanmi Financial by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock valued at $19,728,000 after buying an additional 21,157 shares in the last quarter. Rhino Investment Partners Inc increased its position in shares of Hanmi Financial by 27.1% in the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after buying an additional 167,485 shares in the last quarter. Finally, Stieven Capital Advisors L.P. raised its stake in Hanmi Financial by 4.3% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 634,676 shares of the bank’s stock worth $15,670,000 after buying an additional 25,900 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Shares of HAFC stock opened at $28.41 on Tuesday. The firm has a market cap of $850.88 million, a price-to-earnings ratio of 11.89 and a beta of 0.72. Hanmi Financial has a 12 month low of $19.25 and a 12 month high of $30.20. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $28.05 and a 200 day moving average price of $26.02.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.