Analysts Set Hanmi Financial Corp (HAFC) PT at $28.00

Hanmi Financial Corp (NASDAQ:HAFC) has earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $28.00.

HAFC has been the subject of several recent research reports. Zacks Investment Research raised Hanmi Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. ValuEngine cut Hanmi Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies set a $28.00 price target on Hanmi Financial and gave the company a “hold” rating in a research note on Monday, October 8th. TheStreet cut Hanmi Financial from a “b-” rating to a “c+” rating in a research note on Thursday, October 18th. Finally, FIG Partners cut Hanmi Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 24th.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in Hanmi Financial by 1.6% in the third quarter. Vanguard Group Inc now owns 1,949,089 shares of the bank’s stock worth $48,532,000 after acquiring an additional 30,205 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Hanmi Financial by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,949,089 shares of the bank’s stock worth $48,532,000 after acquiring an additional 30,205 shares in the last quarter. Morgan Stanley boosted its holdings in Hanmi Financial by 17.1% in the third quarter. Morgan Stanley now owns 163,399 shares of the bank’s stock worth $4,068,000 after acquiring an additional 23,862 shares in the last quarter. Legal & General Group Plc boosted its holdings in Hanmi Financial by 9.1% in the third quarter. Legal & General Group Plc now owns 69,786 shares of the bank’s stock worth $1,740,000 after acquiring an additional 5,834 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in Hanmi Financial by 32.2% in the third quarter. TIAA CREF Investment Management LLC now owns 162,190 shares of the bank’s stock worth $4,039,000 after acquiring an additional 39,505 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.



Shares of HAFC opened at $20.70 on Friday. Hanmi Financial has a 12-month low of $17.56 and a 12-month high of $32.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $660.40 million, a price-to-earnings ratio of 11.44, a PEG ratio of 1.19 and a beta of 0.94.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, October 23rd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Hanmi Financial had a return on equity of 10.92% and a net margin of 22.82%. The firm had revenue of $51.54 million during the quarter, compared to analyst estimates of $53.60 million. As a group, research analysts forecast that Hanmi Financial will post 1.94 earnings per share for the current fiscal year.

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. 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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