Hanmi Financial Corporation (NASDAQ:HAFC) Given Hold Rating at Piper Jaffray Companies
Hanmi Financial Corporation (NASDAQ:HAFC)‘s stock had its “hold” rating restated by investment analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday, July 12th. They presently have a $31.00 target price on the bank’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 8.20% from the stock’s previous close.
HAFC has been the subject of a number of other research reports. Keefe, Bruyette & Woods restated a “hold” rating on shares of Hanmi Financial Corporation in a report on Thursday, April 20th. Zacks Investment Research cut Hanmi Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Finally, FBR & Co restated an “outperform” rating and set a $34.00 price objective (down previously from $39.00) on shares of Hanmi Financial Corporation in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.00.
Hanmi Financial Corporation (HAFC) opened at 28.65 on Wednesday. The company has a market cap of $919.03 million, a price-to-earnings ratio of 16.66 and a beta of 0.79. The company has a 50-day moving average of $28.57 and a 200-day moving average of $30.11. Hanmi Financial Corporation has a one year low of $22.76 and a one year high of $35.85.
Hanmi Financial Corporation (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 18th. The bank reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The firm had revenue of $52.88 million during the quarter, compared to analysts’ expectations of $50.85 million. Hanmi Financial Corporation had a return on equity of 10.41% and a net margin of 24.79%. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts expect that Hanmi Financial Corporation will post $1.82 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Hanmi Financial Corporation by 20.1% in the fourth quarter. State Street Corp now owns 908,954 shares of the bank’s stock worth $31,724,000 after buying an additional 151,820 shares during the period. Federated Investors Inc. PA purchased a new stake in shares of Hanmi Financial Corporation during the fourth quarter worth $192,000. FMR LLC raised its stake in shares of Hanmi Financial Corporation by 4.6% in the fourth quarter. FMR LLC now owns 1,332,499 shares of the bank’s stock worth $46,505,000 after buying an additional 58,099 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Hanmi Financial Corporation by 4.1% in the fourth quarter. Public Sector Pension Investment Board now owns 22,927 shares of the bank’s stock worth $800,000 after buying an additional 900 shares during the period. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Hanmi Financial Corporation during the fourth quarter worth $202,000. 88.22% of the stock is owned by institutional investors and hedge funds.
About Hanmi Financial Corporation
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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