Hanmi Financial (NASDAQ:HAFC) Stock Rating Upgraded by Janney Montgomery Scott

Hanmi Financial (NASDAQ:HAFC - Get Free Report) was upgraded by analysts at Janney Montgomery Scott from a "neutral" rating to a "buy" rating in a research note issued on Friday, Marketbeat Ratings reports.

HAFC has been the subject of several other reports. Wedbush reissued a "neutral" rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Piper Sandler upgraded Hanmi Financial from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. DA Davidson upped their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.63.

Hanmi Financial Trading Up 1.2 %

Hanmi Financial stock traded up $0.30 during mid-day trading on Friday, hitting $25.65. 200,022 shares of the stock were exchanged, compared to its average volume of 233,744. The stock has a market capitalization of $774.63 million, a price-to-earnings ratio of 12.32 and a beta of 0.84. Hanmi Financial has a 12 month low of $14.45 and a 12 month high of $26.30. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm's fifty day simple moving average is $20.73 and its two-hundred day simple moving average is $18.48.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The company had revenue of $108.86 million for the quarter, compared to analyst estimates of $59.23 million. During the same quarter in the prior year, the company earned $0.62 EPS. Analysts forecast that Hanmi Financial will post 2.01 EPS for the current year.

Institutional Investors Weigh In On Hanmi Financial

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Hanmi Financial by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank's stock valued at $280,000 after acquiring an additional 1,730 shares during the period. Quantbot Technologies LP increased its position in shares of Hanmi Financial by 244.3% during the first quarter. Quantbot Technologies LP now owns 13,374 shares of the bank's stock valued at $213,000 after buying an additional 9,490 shares during the period. Entropy Technologies LP purchased a new position in shares of Hanmi Financial during the 1st quarter worth approximately $171,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Hanmi Financial during the first quarter valued at approximately $333,000. Finally, Vanguard Group Inc. grew its position in shares of Hanmi Financial by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank's stock worth $35,903,000 after buying an additional 58,097 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.