Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for Hanmi Financial (NASDAQ:HAFC)

Hanmi Financial (NASDAQ:HAFC)‘s stock had its “market perform” rating reissued by Keefe, Bruyette & Woods in a report released on Wednesday, Benzinga reports. They currently have a $18.00 price target on the bank’s stock, down from their prior price target of $18.50. Keefe, Bruyette & Woods’ price target points to a potential upside of 15.16% from the company’s previous close.

Separately, Wedbush reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Hanmi Financial in a research report on Wednesday.

Hanmi Financial Trading Up 3.2 %

NASDAQ:HAFC opened at $15.63 on Wednesday. The business’s 50-day simple moving average is $15.23 and its 200-day simple moving average is $16.44. Hanmi Financial has a fifty-two week low of $13.35 and a fifty-two week high of $20.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market capitalization of $473.28 million, a PE ratio of 6.51 and a beta of 0.95.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.61 earnings per share for the quarter, beating 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 firm had revenue of $59.82 million for the quarter, compared to analyst estimates of $63.43 million. Sell-side analysts expect that Hanmi Financial will post 2.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanmi Financial

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in Hanmi Financial during the fourth quarter worth $30,000. Meeder Asset Management Inc. acquired a new position in shares of Hanmi Financial during the 4th quarter worth about $37,000. Strs Ohio bought a new position in shares of Hanmi Financial in the 3rd quarter valued at about $30,000. Simplex Trading LLC increased its position in shares of Hanmi Financial by 1,406.7% in the fourth quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,899 shares during the last quarter. Finally, CWM LLC boosted its position in Hanmi Financial by 291.6% during the fourth quarter. CWM LLC now owns 2,232 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,662 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

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.