Hanmi Financial (NASDAQ:HAFC) Rating Reiterated by Keefe, Bruyette & Woods

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “market perform” rating reiterated by research analysts at Keefe, Bruyette & Woods in a report released on Wednesday, Benzinga reports. They currently have a $18.00 price target on the bank’s stock, down from their previous price target of $18.50. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 21.62% from the stock’s previous close.

Separately, Wedbush reiterated a “neutral” rating and set a $17.00 target price on shares of Hanmi Financial in a research report on Wednesday.

Hanmi Financial Stock Performance

NASDAQ:HAFC traded down $0.84 on Wednesday, reaching $14.80. 102,908 shares of the company’s stock were exchanged, compared to its average volume of 281,481. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market cap of $448.14 million, a price-to-earnings ratio of 5.62 and a beta of 0.95. Hanmi Financial has a 52 week low of $13.35 and a 52 week high of $20.31. The stock has a fifty day simple moving average of $15.23 and a 200-day simple moving average of $16.45.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $59.82 million during the quarter, compared to analyst estimates of $63.43 million. Hanmi Financial had a net margin of 19.84% and a return on equity of 11.88%. As a group, sell-side analysts predict that Hanmi Financial will post 2.15 earnings per share for the current year.

Institutional Investors Weigh In On Hanmi Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in shares of Hanmi Financial by 151.2% during the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after acquiring an additional 266,949 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Hanmi Financial by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock worth $280,000 after acquiring an additional 1,730 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Hanmi Financial by 18.6% during the first quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank’s stock worth $308,000 after acquiring an additional 3,030 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Hanmi Financial by 90.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after buying an additional 2,441 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its stake in shares of Hanmi Financial by 48.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 40,743 shares of the bank’s stock worth $790,000 after buying an additional 13,297 shares during the period. 88.66% 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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.