Hanmi Financial (NASDAQ:HAFC) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a buy rating in a research report released on Wednesday morning, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the company. ValuEngine raised Hanmi Financial from a sell rating to a hold rating in a research report on Wednesday, October 30th. TheStreet cut Hanmi Financial from a b- rating to a c+ rating in a research report on Monday, August 12th. Zacks Investment Research raised Hanmi Financial from a sell rating to a hold rating in a research report on Thursday, August 15th. Finally, DA Davidson cut Hanmi Financial from a buy rating to a neutral rating and decreased their target price for the stock from $27.00 to $21.50 in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $21.50.

NASDAQ HAFC traded down $0.12 on Wednesday, hitting $19.77. 89,100 shares of the company were exchanged, compared to its average volume of 170,619. The firm has a market capitalization of $620.98 million, a P/E ratio of 10.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50 day moving average price is $18.64 and its 200-day moving average price is $20.36. Hanmi Financial has a twelve month low of $17.01 and a twelve month high of $24.18.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07). The company had revenue of $50.92 million for the quarter, compared to the consensus estimate of $50.96 million. Hanmi Financial had a return on equity of 7.77% and a net margin of 14.93%. As a group, equities analysts expect that Hanmi Financial will post 1.38 EPS for the current year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.96 dividend on an annualized basis and a yield of 4.86%. Hanmi Financial’s payout ratio is currently 50.53%.

Several institutional investors and hedge funds have recently bought and sold shares of HAFC. FMR LLC boosted its position in shares of Hanmi Financial by 6.5% in the first quarter. FMR LLC now owns 2,561,110 shares of the bank’s stock valued at $54,475,000 after acquiring an additional 155,428 shares during the period. Janney Capital Management LLC boosted its position in shares of Hanmi Financial by 13.9% in the second quarter. Janney Capital Management LLC now owns 15,081 shares of the bank’s stock valued at $336,000 after acquiring an additional 1,844 shares during the period. Aperio Group LLC boosted its position in shares of Hanmi Financial by 8.7% in the second quarter. Aperio Group LLC now owns 33,205 shares of the bank’s stock valued at $739,000 after acquiring an additional 2,663 shares during the period. Stone Ridge Asset Management LLC bought a new stake in shares of Hanmi Financial in the second quarter valued at approximately $205,000. Finally, Acadian Asset Management LLC boosted its position in shares of Hanmi Financial by 193.5% in the second quarter. Acadian Asset Management LLC now owns 35,228 shares of the bank’s stock valued at $785,000 after acquiring an additional 23,225 shares during the period. 87.49% of the stock is owned by institutional investors.

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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

Featured Story: Blockchain

Leave a Reply

Your email address will not be published. Required fields are marked *

*