Hanmi Financial (NASDAQ:HAFC) Given New $21.00 Price Target at Wedbush

Hanmi Financial (NASDAQ:HAFC) had its price objective dropped by stock analysts at Wedbush from $22.00 to $21.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Wedbush’s price objective would suggest a potential upside of 10.70% from the stock’s previous close.

Separately, DA Davidson lifted their price objective on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th.

Hanmi Financial Trading Down 1.1 %

HAFC traded down $0.22 during mid-day trading on Tuesday, hitting $18.97. The stock had a trading volume of 40,547 shares, compared to its average volume of 237,035. The stock’s fifty day simple moving average is $19.20 and its 200-day simple moving average is $16.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00. Hanmi Financial has a 1-year low of $13.87 and a 1-year high of $20.92. The firm has a market capitalization of $576.44 million, a price-to-earnings ratio of 7.92 and a beta of 0.88.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. The firm had revenue of $106.72 million for the quarter, compared to analyst estimates of $59.07 million. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, research analysts forecast that Hanmi Financial will post 1.98 EPS for the current fiscal year.

Institutional Trading of Hanmi Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. grew its position in Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after purchasing an additional 1,207 shares during the period. PNC Financial Services Group Inc. lifted its position in Hanmi Financial by 90.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after buying an additional 2,441 shares during the last quarter. EntryPoint Capital LLC lifted its position in Hanmi Financial by 278.4% in the first quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock valued at $135,000 after buying an additional 6,242 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Hanmi Financial during the second quarter worth about $168,000. Finally, Entropy Technologies LP acquired a new stake in shares of Hanmi Financial during the first quarter worth about $171,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

About Hanmi Financial

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.