Hanmi Financial (NASDAQ:HAFC) Receives Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Hanmi Financial (NASDAQ:HAFC) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $17.00 price objective on the bank’s stock. Wedbush also issued estimates for Hanmi Financial’s Q3 2024 earnings at $0.59 EPS and Q4 2024 earnings at $0.57 EPS.

Separately, Keefe, Bruyette & Woods lowered their target price on shares of Hanmi Financial from $20.00 to $18.50 and set a market perform rating on the stock in a report on Wednesday, January 24th.

Hanmi Financial Stock Performance

HAFC opened at $15.14 on Wednesday. The firm has a market cap of $458.44 million, a P/E ratio of 6.31 and a beta of 0.95. Hanmi Financial has a 1-year low of $13.35 and a 1-year high of $20.31. The company has a 50 day simple moving average of $15.23 and a two-hundred day simple moving average of $16.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly 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. Hanmi Financial had a net margin of 17.63% and a return on equity of 10.80%. The business had revenue of $59.82 million during the quarter, compared to analyst estimates of $63.43 million. Equities analysts forecast that Hanmi Financial will post 2.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanmi Financial

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Hanmi Financial by 107.1% in the third quarter. Assenagon Asset Management S.A. now owns 291,658 shares of the bank’s stock worth $4,734,000 after buying an additional 150,861 shares in the last quarter. American Century Companies Inc. raised its stake in Hanmi Financial by 10.8% during the third quarter. American Century Companies Inc. now owns 358,918 shares of the bank’s stock valued at $5,825,000 after purchasing an additional 35,104 shares in the last quarter. Alps Advisors Inc. raised its stake in Hanmi Financial by 35.7% during the third quarter. Alps Advisors Inc. now owns 20,088 shares of the bank’s stock valued at $326,000 after purchasing an additional 5,282 shares in the last quarter. GSA Capital Partners LLP raised its stake in Hanmi Financial by 148.3% during the third quarter. GSA Capital Partners LLP now owns 53,050 shares of the bank’s stock valued at $861,000 after purchasing an additional 31,682 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Hanmi Financial by 1.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 208,574 shares of the bank’s stock valued at $3,385,000 after purchasing an additional 3,494 shares in the last quarter. Hedge funds and other 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.