Hanmi Financial Corporation (NASDAQ:HAFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Hanmi Financial Corporation is the holding company for Hanmi Bank, one of the leading banks providing services to the multi-ethnic communities of Southern California with full service offices. Hanmi Bank is a business bank conducting a general community banking business, with its primary market encompassing multi-ethnic small business customers. The bank specializes in commercial, SBA, trade finance, and consumer lending and is a recognized community leader serving the diverse communities throughout Southern California. (PRESS RELEASE) “

A number of other analysts also recently weighed in on the company. Piper Jaffray Companies restated a “hold” rating and issued a $31.00 target price on shares of Hanmi Financial Corporation in a research report on Wednesday, July 12th. BidaskClub downgraded Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, ValuEngine downgraded Hanmi Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.00.

Shares of Hanmi Financial Corporation (HAFC) traded up 1.31% on Friday, reaching $27.05. The company’s stock had a trading volume of 65,575 shares. The stock has a market cap of $867.95 million, a P/E ratio of 15.73 and a beta of 0.79. The firm’s 50-day moving average price is $27.79 and its 200-day moving average price is $29.17. Hanmi Financial Corporation has a 12 month low of $22.76 and a 12 month high of $35.85.

Hanmi Financial Corporation (NASDAQ:HAFC) last released its earnings results on Tuesday, July 18th. The bank reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $52.88 million during the quarter, compared to the consensus estimate 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 company posted $0.44 EPS. On average, analysts forecast that Hanmi Financial Corporation will post $1.82 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Hanmi Financial Corporation by 0.6% in the second quarter. BlackRock Inc. now owns 4,007,958 shares of the bank’s stock worth $114,026,000 after buying an additional 24,016 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Hanmi Financial Corporation by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,008,836 shares of the bank’s stock worth $57,152,000 after buying an additional 95,155 shares during the period. Vanguard Group Inc. boosted its position in shares of Hanmi Financial Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,699,379 shares of the bank’s stock worth $48,348,000 after buying an additional 37,465 shares during the period. FMR LLC boosted its position in shares of Hanmi Financial Corporation by 16.7% in the second quarter. FMR LLC now owns 1,576,609 shares of the bank’s stock worth $44,855,000 after buying an additional 226,110 shares during the period. Finally, Thrivent Financial For Lutherans boosted its position in shares of Hanmi Financial Corporation by 2.7% in the second quarter. Thrivent Financial For Lutherans now owns 1,145,173 shares of the bank’s stock worth $32,580,000 after buying an additional 30,130 shares during the period. 88.39% of the stock is currently 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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