Hanmi Financial (NASDAQ:HAFC) Earns "Neutral" Rating from Wedbush

Hanmi Financial (NASDAQ:HAFC - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $21.00 price objective on the bank's stock. Wedbush's price objective would suggest a potential downside of 2.60% from the company's current price.

Several other equities research analysts have also recently issued reports on HAFC. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. DA Davidson lifted their price target on Hanmi Financial from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th.

Hanmi Financial Price Performance

Hanmi Financial stock traded up $1.43 during trading on Wednesday, reaching $21.56. The company had a trading volume of 588,108 shares, compared to its average volume of 232,855. The firm's 50-day simple moving average is $19.20 and its 200 day simple moving average is $17.49. Hanmi Financial has a 1-year low of $13.87 and a 1-year high of $21.64. The firm has a market capitalization of $655.14 million, a PE ratio of 8.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The company had revenue of $108.86 million for the quarter, compared to analysts' expectations of $59.23 million. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, equities research analysts anticipate that Hanmi Financial will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank's stock valued at $100,000 after buying an additional 2,441 shares during the period. Los Angeles Capital Management LLC grew its position in Hanmi Financial by 18.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 19,330 shares of the bank's stock valued at $308,000 after acquiring an additional 3,030 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Hanmi Financial by 10.9% in 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 in the last quarter. BNP Paribas Financial Markets grew its position in Hanmi Financial by 113.5% in the 1st quarter. BNP Paribas Financial Markets now owns 82,130 shares of the bank's stock valued at $1,308,000 after acquiring an additional 43,662 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Hanmi Financial by 244.3% in the 1st quarter. Quantbot Technologies LP now owns 13,374 shares of the bank's stock valued at $213,000 after acquiring an additional 9,490 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company's stock.

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.