Hanmi Financial (NASDAQ:HAFC) Upgraded by Wall Street Zen to “Buy” Rating

Hanmi Financial (NASDAQ:HAFC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods upped their price target on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Hanmi Financial Price Performance

Shares of Hanmi Financial stock opened at $28.11 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $26.16 and a 200-day simple moving average of $24.90. The stock has a market capitalization of $841.89 million, a price-to-earnings ratio of 11.76 and a beta of 0.75. Hanmi Financial has a 1-year low of $19.25 and a 1-year high of $28.53.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. The firm had revenue of $70.96 million for the quarter, compared to the consensus estimate of $67.80 million. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. On average, sell-side analysts expect that Hanmi Financial will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Hanmi Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of HAFC. Mariner LLC increased its holdings in shares of Hanmi Financial by 57.7% during the 3rd quarter. Mariner LLC now owns 22,685 shares of the bank’s stock worth $560,000 after acquiring an additional 8,302 shares during the last quarter. Citadel Advisors LLC boosted its position in Hanmi Financial by 2.5% during the third quarter. Citadel Advisors LLC now owns 59,509 shares of the bank’s stock worth $1,469,000 after purchasing an additional 1,436 shares during the period. Bank of America Corp DE increased its holdings in shares of Hanmi Financial by 16.2% in the third quarter. Bank of America Corp DE now owns 92,696 shares of the bank’s stock valued at $2,289,000 after purchasing an additional 12,916 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Hanmi Financial in the third quarter valued at $669,000. Finally, Two Sigma Investments LP raised its position in shares of Hanmi Financial by 58.2% in the third quarter. Two Sigma Investments LP now owns 143,837 shares of the bank’s stock valued at $3,551,000 after purchasing an additional 52,918 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Company Profile

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.