FIG Partners Lowers Hanmi Financial Corp. (HAFC) to Market Perform
Hanmi Financial Corp. (NASDAQ:HAFC) was downgraded by analysts at FIG Partners from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday.
HAFC has been the topic of a number of other research reports. Raymond James Financial Inc. raised Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Thursday, August 25th. Zacks Investment Research lowered Hanmi Financial Corp. from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 25th. Finally, FBR & Co reduced their price objective on Hanmi Financial Corp. from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.17.
Hanmi Financial Corp. (NASDAQ:HAFC) traded down 3.117% during trading on Wednesday, hitting $23.155. The company had a trading volume of 246,813 shares. The firm has a 50-day moving average of $26.33 and a 200 day moving average of $24.26. Hanmi Financial Corp. has a 12-month low of $18.92 and a 12-month high of $28.09. The company has a market capitalization of $738.67 million, a price-to-earnings ratio of 12.936 and a beta of 1.07.
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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 analysts’ consensus estimates 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 period last year, the business posted $0.44 earnings per share. On average, equities research analysts forecast that Hanmi Financial Corp. will post $1.79 earnings per share for the current year.
In related news, Director Joon Hyung Lee sold 2,412 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $25.33, for a total value of $61,095.96. Following the completion of the sale, the director now owns 270,285 shares in the company, valued at $6,846,319.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.91% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in HAFC. Virginia Retirement System acquired a new stake in shares of Hanmi Financial Corp. during the first quarter valued at about $344,000. TIAA CREF Investment Management LLC increased its stake 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 increased its stake 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. increased its stake 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. increased its stake 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. 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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