Hanmi Financial (HAFC) Lifted to “Hold” at Zacks Investment Research


Zacks Investment Research upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a sell rating to a hold rating in a research report released on Thursday morning.

According to Zacks, “Hanmi Financial Corporation is the holding company for Hanmi Bank, one of the leading banks providing services to the multi-ethnic communities of Southern California with full service offices. Hanmi Bank is a business bank conducting a general community banking business, with its primary market encompassing multi-ethnic small business customers. The bank specializes in commercial, SBA, trade finance, and consumer lending and is a recognized community leader serving the diverse communities throughout Southern California. (PRESS RELEASE) “


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Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Hanmi Financial from a hold rating to a buy rating in a research report on Thursday. ValuEngine raised shares of Hanmi Financial from a hold rating to a buy rating in a research report on Wednesday, March 7th. Piper Jaffray Companies set a $31.00 target price on shares of Hanmi Financial and gave the stock a hold rating in a research report on Wednesday, April 25th. FIG Partners raised shares of Hanmi Financial from a market-perform rating to an outperform rating in a research report on Monday. Finally, Raymond James dropped their target price on shares of Hanmi Financial from $35.00 to $32.00 and set an outperform rating for the company in a research report on Thursday, April 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Hanmi Financial presently has a consensus rating of Buy and an average price target of $32.50.


HAFC opened at $30.35 on Thursday. Hanmi Financial has a 1 year low of $25.45 and a 1 year high of $33.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.60. The firm has a market cap of $984.65 million, a P/E ratio of 16.77, a PEG ratio of 1.81 and a beta of 0.70.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, April 24th. The bank reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.07). Hanmi Financial had a return on equity of 10.67% and a net margin of 22.44%. The company had revenue of $50.99 million during the quarter, compared to analysts’ expectations of $55.17 million. During the same period in the prior year, the business posted $0.43 earnings per share. analysts predict that Hanmi Financial will post 2.09 earnings per share for the current year.


The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Monday, May 7th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 4th. This represents a $0.96 dividend on an annualized basis and a yield of 3.16%. Hanmi Financial’s dividend payout ratio (DPR) is currently 53.04%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new position in Hanmi Financial during the 4th quarter valued at about $201,000. Cubist Systematic Strategies LLC purchased a new position in Hanmi Financial during the 1st quarter valued at about $208,000. Koch Industries Inc. purchased a new position in Hanmi Financial during the 1st quarter valued at about $232,000. Brinker Capital Inc. purchased a new position in Hanmi Financial during the 1st quarter valued at about $237,000. Finally, KBC Group NV purchased a new position in Hanmi Financial during the 1st quarter valued at about $263,000. 89.18% of the stock is owned by institutional investors.


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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