Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Hanmi Financial (NASDAQ:HAFC)

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “market perform” rating reissued by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $29.00 target price on the bank’s stock, up from their prior target price of $24.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 13.81% from the company’s previous close.

HAFC has been the subject of several other research reports. Wedbush reiterated a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday, October 23rd. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, DA Davidson increased their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.38.

Hanmi Financial Stock Down 1.0 %

Hanmi Financial stock opened at $25.48 on Wednesday. The business has a fifty day moving average of $22.90 and a two-hundred day moving average of $19.52. 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 firm has a market cap of $769.50 million, a P/E ratio of 12.25 and a beta of 0.87. Hanmi Financial has a twelve month low of $14.45 and a twelve month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The firm had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. During the same quarter in the prior year, the business posted $0.62 EPS. On average, analysts forecast that Hanmi Financial will post 2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanmi Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in Hanmi Financial by 1.1% in the 3rd quarter. Intech Investment Management LLC now owns 37,706 shares of the bank’s stock worth $701,000 after acquiring an additional 414 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Hanmi Financial by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after purchasing an additional 911 shares during the period. Royce & Associates LP grew its position in Hanmi Financial by 0.6% during the 3rd quarter. Royce & Associates LP now owns 192,802 shares of the bank’s stock worth $3,586,000 after purchasing an additional 1,089 shares during the period. 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. Finally, Point72 DIFC Ltd acquired a new stake in Hanmi Financial during the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.