Hanmi Financial (NASDAQ:HAFC) Receives Neutral Rating from DA Davidson

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “neutral” rating reaffirmed by investment analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They presently have a $27.50 target price on the bank’s stock. DA Davidson’s price objective suggests a potential upside of 12.14% from the stock’s current price.

A number of other equities analysts have also commented on HAFC. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Finally, Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.75.

Hanmi Financial Price Performance

HAFC traded down $0.02 during trading on Thursday, hitting $24.52. The company’s stock had a trading volume of 31,257 shares, compared to its average volume of 189,607. The firm’s 50 day moving average price is $24.21 and its two-hundred day moving average price is $21.68. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $740.62 million, a price-to-earnings ratio of 11.80 and a beta of 0.89. Hanmi Financial has a 12 month low of $14.45 and a 12 month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. Sell-side analysts forecast that Hanmi Financial will post 2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanmi Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position in shares of Hanmi Financial by 26.1% during the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after purchasing an additional 182,164 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Hanmi Financial by 71.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock valued at $15,552,000 after acquiring an additional 349,339 shares in the last quarter. Stieven Capital Advisors L.P. grew its holdings in shares of Hanmi Financial by 20.6% during the third quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock worth $10,622,000 after purchasing an additional 97,500 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Hanmi Financial by 66.5% in the third quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock worth $7,352,000 after purchasing an additional 157,792 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Hanmi Financial by 0.6% during the third quarter. Royce & Associates LP now owns 192,802 shares of the bank’s stock valued at $3,586,000 after purchasing an additional 1,089 shares during the last quarter. 88.66% of the stock is owned by hedge funds and other institutional investors.

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.