Hanmi Financial (NASDAQ:HAFC) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Hanmi Financial (NASDAQ:HAFCGet Rating) from a buy rating to a hold rating in a research note released on Wednesday morning.

HAFC has been the subject of several other reports. Zacks Investment Research upgraded Hanmi Financial from a hold rating to a buy rating and set a $30.00 price target for the company in a research note on Thursday, January 27th. Jonestrading upped their price target on Hanmi Financial from $24.00 to $29.00 and gave the stock a buy rating in a research note on Wednesday, January 26th. Finally, DA Davidson downgraded Hanmi Financial from a buy rating to a neutral rating and set a $25.00 price target for the company. in a research note on Wednesday, May 18th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hanmi Financial currently has a consensus rating of Buy and an average price target of $28.00.

Shares of NASDAQ:HAFC opened at $23.34 on Wednesday. The stock has a 50 day moving average of $23.85 and a 200 day moving average of $24.45. The company has a market cap of $711.10 million, a PE ratio of 6.97 and a beta of 1.07. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. Hanmi Financial has a 12-month low of $16.67 and a 12-month high of $28.84.

Hanmi Financial (NASDAQ:HAFCGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. The company had revenue of $59.48 million during the quarter, compared to the consensus estimate of $57.23 million. Hanmi Financial had a return on equity of 16.52% and a net margin of 39.39%. During the same period in the previous year, the company posted $0.55 EPS. Equities research analysts predict that Hanmi Financial will post 2.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Monday, May 9th were given a dividend of $0.22 per share. The ex-dividend date was Friday, May 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.77%. Hanmi Financial’s dividend payout ratio is currently 26.27%.

Large investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new stake in Hanmi Financial during the 4th quarter valued at $26,000. Lazard Asset Management LLC purchased a new stake in Hanmi Financial during the 4th quarter valued at $29,000. Captrust Financial Advisors raised its holdings in Hanmi Financial by 64.7% during the 1st quarter. Captrust Financial Advisors now owns 4,632 shares of the bank’s stock valued at $114,000 after buying an additional 1,819 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Hanmi Financial by 7,011.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,187 shares of the bank’s stock valued at $124,000 after buying an additional 6,100 shares during the period. Finally, Metropolitan Life Insurance Co NY raised its holdings in Hanmi Financial by 8.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,584 shares of the bank’s stock valued at $152,000 after buying an additional 565 shares during the period. Institutional investors own 87.05% of the company’s stock.

About Hanmi Financial (Get Rating)

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

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