Hanmi Financial (NASDAQ:HAFC) Receives Neutral Rating from Wedbush

Wedbush reissued their neutral rating on shares of Hanmi Financial (NASDAQ:HAFC) in a research report released on Wednesday, Benzinga reports. They currently have a $17.00 target price on the bank’s stock. Wedbush also issued estimates for Hanmi Financial’s Q3 2024 earnings at $0.59 EPS and Q4 2024 earnings at $0.57 EPS.

Separately, Keefe, Bruyette & Woods dropped their target price on Hanmi Financial from $20.00 to $18.50 and set a market perform rating for the company in a research report on Wednesday, January 24th.

Hanmi Financial Stock Performance

NASDAQ HAFC opened at $15.14 on Wednesday. The company has a market cap of $458.44 million, a P/E ratio of 6.31 and a beta of 0.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a 50-day moving average of $15.23 and a two-hundred day moving average of $16.44. Hanmi Financial has a 1-year low of $13.35 and a 1-year high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $59.82 million during the quarter, compared to the consensus estimate of $63.43 million. Hanmi Financial had a return on equity of 10.80% and a net margin of 17.63%. As a group, analysts anticipate that Hanmi Financial will post 2.15 EPS for the current year.

Hedge Funds Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently made changes to their positions in HAFC. Assenagon Asset Management S.A. grew its position in shares of Hanmi Financial by 151.2% during the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after buying an additional 266,949 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Hanmi Financial by 2,264.9% during the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after buying an additional 228,365 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Hanmi Financial by 59.9% during the third quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock worth $6,311,000 after buying an additional 145,703 shares in the last quarter. American Century Companies Inc. grew its position in shares of Hanmi Financial by 10.8% during the third quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock worth $5,825,000 after buying an additional 35,104 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of Hanmi Financial by 148.3% during the third quarter. GSA Capital Partners LLP now owns 53,050 shares of the bank’s stock worth $861,000 after buying an additional 31,682 shares in the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

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