FBR & Co Lowers Hanmi Financial Corp. (HAFC) Price Target to $27.00
Hanmi Financial Corp. (NASDAQ:HAFC) had its price objective decreased by research analysts at FBR & Co from $29.00 to $27.00 in a research report issued on Wednesday, StockTargetPrices.com reports. The brokerage presently has an “outperform” rating on the stock. FBR & Co’s price objective points to a potential upside of 12.97% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. Raymond James Financial Inc. raised shares of Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Thursday, August 25th. Zacks Investment Research raised shares of Hanmi Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, July 22nd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $27.17.
Hanmi Financial Corp. (NASDAQ:HAFC) opened at 23.90 on Wednesday. The firm’s 50-day moving average is $26.32 and its 200 day moving average is $24.26. Hanmi Financial Corp. has a one year low of $18.92 and a one year high of $28.09. The company has a market capitalization of $762.43 million, a PE ratio of 13.35 and a beta of 1.07.
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Hanmi Financial Corp. (NASDAQ:HAFC) last announced its earnings results on Tuesday, October 18th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.03. Hanmi Financial Corp. had a return on equity of 11.49% and a net margin of 27.43%. During the same quarter last year, the firm posted $0.44 EPS. On average, equities analysts expect that Hanmi Financial Corp. will post $1.79 EPS for the current fiscal year.
In related news, Director Joon Hyung Lee sold 2,412 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $25.33, for a total value of $61,095.96. Following the sale, the director now directly owns 270,285 shares in the company, valued at approximately $6,846,319.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.91% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its stake in shares of Hanmi Financial Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,475 shares of the company’s stock valued at $105,000 after buying an additional 551 shares during the period. Societe Generale bought a new stake in shares of Hanmi Financial Corp. during the second quarter valued at about $106,000. SG Americas Securities LLC bought a new stake in shares of Hanmi Financial Corp. during the second quarter valued at about $106,000. Mason Street Advisors LLC bought a new stake in shares of Hanmi Financial Corp. during the second quarter valued at about $148,000. Finally, BlackRock Inc. raised its stake in shares of Hanmi Financial Corp. by 144.6% in the second quarter. BlackRock Inc. now owns 7,700 shares of the company’s stock valued at $180,000 after buying an additional 4,552 shares during the period. Hedge funds and other institutional investors own 86.20% of the company’s stock.
About Hanmi Financial Corp.
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.
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