Hanmi Financial Corp. (HAFC) Price Target Lowered to $27.00 at FBR & Co
Hanmi Financial Corp. (NASDAQ:HAFC) had its price target decreased by stock analysts at FBR & Co from $29.00 to $27.00 in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports. The brokerage currently has an “outperform” rating on the stock. FBR & Co’s target price indicates a potential upside of 12.97% from the stock’s current price.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Hanmi Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Friday, July 22nd. Raymond James Financial Inc. upgraded Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Thursday, August 25th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.17.
Shares of Hanmi Financial Corp. (NASDAQ:HAFC) opened at 23.90 on Wednesday. Hanmi Financial Corp. has a 1-year low of $18.92 and a 1-year high of $28.09. The stock has a market cap of $762.43 million, a price-to-earnings ratio of 13.35 and a beta of 1.07. The firm has a 50-day moving average price of $26.32 and a 200-day moving average price of $24.26.
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Hanmi Financial Corp. (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.03. Hanmi Financial Corp. had a net margin of 27.43% and a return on equity of 11.49%. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities analysts forecast that Hanmi Financial Corp. will post $1.79 EPS for the current year.
In other Hanmi Financial Corp. news, Director Joon Hyung Lee sold 2,412 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $25.33, for a total transaction of $61,095.96. Following the transaction, the director now owns 270,285 shares of the company’s stock, valued at $6,846,319.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.91% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Virginia Retirement System acquired a new position in shares of Hanmi Financial Corp. during the first quarter valued at approximately $344,000. TIAA CREF Investment Management LLC raised its position in shares of Hanmi Financial Corp. by 19.5% in the first quarter. TIAA CREF Investment Management LLC now owns 193,820 shares of the company’s stock valued at $4,268,000 after buying an additional 31,600 shares during the period. BlackRock Group LTD raised its position in shares of Hanmi Financial Corp. by 10.0% in the first quarter. BlackRock Group LTD now owns 35,030 shares of the company’s stock valued at $771,000 after buying an additional 3,179 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Hanmi Financial Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 936,317 shares of the company’s stock valued at $20,618,000 after buying an additional 13,769 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Hanmi Financial Corp. by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 942,036 shares of the company’s stock valued at $20,744,000 after buying an additional 51,600 shares during the period. 86.20% of the stock is currently owned by institutional investors and hedge funds.
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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