Hanmi Financial Corp. (HAFC) Given Average Rating of “Buy” by Analysts
Shares of Hanmi Financial Corp. (NASDAQ:HAFC) have received an average recommendation of “Buy” from the seven research firms that are presently covering the firm. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $27.00.
Several research analysts have commented on HAFC shares. Zacks Investment Research raised Hanmi Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, June 21st. Raymond James Financial Inc. raised Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Thursday, August 25th.
In other news, Director Joon Hyung Lee sold 2,412 shares of Hanmi Financial Corp. stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $25.33, for a total value of $61,095.96. Following the completion of the transaction, the director now directly owns 270,285 shares of the company’s stock, valued at approximately $6,846,319.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.91% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its stake in shares of Hanmi Financial Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,475 shares of the company’s stock worth $105,000 after buying an additional 551 shares during the last quarter. Societe Generale purchased a new stake in shares of Hanmi Financial Corp. during the second quarter worth approximately $106,000. SG Americas Securities LLC purchased a new stake in shares of Hanmi Financial Corp. during the second quarter worth approximately $106,000. Mason Street Advisors LLC purchased a new stake in shares of Hanmi Financial Corp. during the second quarter worth approximately $148,000. Finally, BlackRock Inc. raised its stake in shares of Hanmi Financial Corp. by 144.6% in the second quarter. BlackRock Inc. now owns 7,700 shares of the company’s stock worth $180,000 after buying an additional 4,552 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.
Shares of Hanmi Financial Corp. (NASDAQ:HAFC) traded down 0.11% during midday trading on Friday, hitting $26.16. The company’s stock had a trading volume of 113,227 shares. The company has a 50-day moving average price of $26.37 and a 200 day moving average price of $24.16. Hanmi Financial Corp. has a 1-year low of $18.92 and a 1-year high of $28.09. The company has a market cap of $834.53 million, a P/E ratio of 14.61 and a beta of 1.07.
Hanmi Financial Corp. (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 19th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Hanmi Financial Corp. had a return on equity of 11.49% and a net margin of 27.43%. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities research analysts predict that Hanmi Financial Corp. will post $1.79 EPS for the current year.
Hanmi Financial Corp. Company Profile
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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