Hanmi Financial (HAFC) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Hanmi Financial (NASDAQ:HAFC) from a buy rating to a hold rating in a research note published on Thursday, November 9th.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Hanmi Financial from a hold rating to a sell rating in a research note on Thursday, October 19th. Keefe, Bruyette & Woods set a $28.00 price target on shares of Hanmi Financial and gave the company a hold rating in a research note on Saturday, October 7th. Piper Jaffray Companies reissued a hold rating and issued a $31.00 target price on shares of Hanmi Financial in a research note on Friday, October 6th. Finally, BidaskClub lowered shares of Hanmi Financial from a sell rating to a strong sell rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $31.00.

Hanmi Financial (NASDAQ HAFC) traded up $1.10 during midday trading on Thursday, hitting $31.20. The company had a trading volume of 154,669 shares, compared to its average volume of 140,059. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.00. Hanmi Financial has a 52-week low of $25.45 and a 52-week high of $35.85. The firm has a market cap of $973.90, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 2.08 and a beta of 0.79.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Hanmi Financial had a return on equity of 10.60% and a net margin of 24.54%. The company had revenue of $53.74 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period last year, the firm earned $0.41 EPS. sell-side analysts predict that Hanmi Financial will post 1.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 30th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.69%. Hanmi Financial’s dividend payout ratio is currently 46.93%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. acquired a new stake in Hanmi Financial in the 1st quarter valued at approximately $429,000. Parametric Portfolio Associates LLC grew its stake in shares of Hanmi Financial by 67.7% in the first quarter. Parametric Portfolio Associates LLC now owns 34,350 shares of the bank’s stock worth $1,056,000 after acquiring an additional 13,861 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Hanmi Financial by 2.6% during the 1st quarter. Teachers Advisors LLC now owns 58,199 shares of the bank’s stock worth $1,790,000 after purchasing an additional 1,492 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Hanmi Financial by 1.1% during the 1st quarter. Legal & General Group Plc now owns 53,382 shares of the bank’s stock worth $1,642,000 after purchasing an additional 601 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Hanmi Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 1,661,914 shares of the bank’s stock worth $51,104,000 after purchasing an additional 83,123 shares during the last quarter. Institutional investors and hedge funds own 90.51% of the company’s stock.

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About Hanmi Financial

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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