BidaskClub Lowers Hanmi Financial (HAFC) to Hold

BidaskClub lowered shares of Hanmi Financial (NASDAQ:HAFC) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Hanmi Financial from a buy rating to a hold rating in a research report on Wednesday, February 14th. FIG Partners raised Hanmi Financial from a market-perform rating to an outperform rating in a research report on Monday, May 21st. Piper Jaffray Companies set a $31.00 price objective on Hanmi Financial and gave the company a hold rating in a research report on Wednesday, April 25th. ValuEngine raised Hanmi Financial from a hold rating to a buy rating in a research report on Wednesday, March 7th. Finally, Raymond James reduced their price objective on Hanmi Financial from $35.00 to $32.00 and set an outperform rating for the company in a research report on Thursday, April 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Hanmi Financial currently has an average rating of Hold and a consensus target price of $32.50.

Shares of Hanmi Financial opened at $29.80 on Wednesday, Marketbeat reports. Hanmi Financial has a 1-year low of $25.45 and a 1-year high of $33.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.60. The firm has a market cap of $979.77 million, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.80 and a beta of 0.72.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, April 24th. The bank reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hanmi Financial had a net margin of 22.44% and a return on equity of 10.67%. The business had revenue of $50.99 million for the quarter, compared to analysts’ expectations of $55.17 million. During the same quarter in the prior year, the firm posted $0.43 EPS. equities research analysts anticipate that Hanmi Financial will post 2.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 29th. Investors of record on Monday, May 7th were given a dividend of $0.24 per share. The ex-dividend date was Friday, May 4th. This represents a $0.96 dividend on an annualized basis and a yield of 3.22%. Hanmi Financial’s payout ratio is 53.04%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAFC. Millennium Management LLC boosted its position in Hanmi Financial by 110.1% during the fourth quarter. Millennium Management LLC now owns 453,365 shares of the bank’s stock valued at $13,760,000 after purchasing an additional 237,564 shares during the last quarter. Boston Partners boosted its position in Hanmi Financial by 26.4% during the first quarter. Boston Partners now owns 952,136 shares of the bank’s stock valued at $29,278,000 after purchasing an additional 199,046 shares during the last quarter. BlackRock Inc. boosted its position in Hanmi Financial by 4.1% during the fourth quarter. BlackRock Inc. now owns 4,253,574 shares of the bank’s stock valued at $129,097,000 after purchasing an additional 169,321 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Hanmi Financial by 26.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 459,281 shares of the bank’s stock valued at $14,123,000 after purchasing an additional 97,362 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in Hanmi Financial by 20.5% during the first quarter. Systematic Financial Management LP now owns 384,032 shares of the bank’s stock valued at $11,809,000 after purchasing an additional 65,412 shares during the last quarter. 89.23% 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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

Receive News & Ratings for Hanmi Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit