Keefe, Bruyette & Woods Reiterates $28.00 Price Target for Hanmi Financial Corporation (HAFC)

Keefe, Bruyette & Woods set a $28.00 price objective on Hanmi Financial Corporation (NASDAQ:HAFC) in a research note released on Saturday. The firm currently has a hold rating on the bank’s stock.

A number of other brokerages have also commented on HAFC. Piper Jaffray Companies reiterated a hold rating and set a $31.00 price target on shares of Hanmi Financial Corporation in a report on Friday. ValuEngine upgraded Hanmi Financial Corporation from a hold rating to a buy rating in a report on Wednesday, September 27th. Zacks Investment Research lowered Hanmi Financial Corporation from a hold rating to a sell rating in a report on Thursday, July 20th. Finally, BidaskClub lowered Hanmi Financial Corporation from a sell rating to a strong sell rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $31.00.

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) opened at 31.50 on Friday. The company has a market cap of $1.01 billion, a PE ratio of 18.31 and a beta of 0.81. The company has a 50-day moving average price of $28.25 and a 200-day moving average price of $28.46. Hanmi Financial Corporation has a 1-year low of $22.78 and a 1-year high of $35.85.

Hanmi Financial Corporation (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, July 18th. The bank reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $52.88 million for the quarter, compared to analyst estimates of $50.85 million. Hanmi Financial Corporation had a return on equity of 10.41% and a net margin of 24.79%. During the same period last year, the company posted $0.44 earnings per share. Equities research analysts expect that Hanmi Financial Corporation will post $1.82 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Hanmi Financial Corporation by 0.6% in the second quarter. BlackRock Inc. now owns 4,007,958 shares of the bank’s stock valued at $114,026,000 after buying an additional 24,016 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Hanmi Financial Corporation by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,008,836 shares of the bank’s stock valued at $57,152,000 after buying an additional 95,155 shares during the period. Vanguard Group Inc. raised its stake in shares of Hanmi Financial Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,699,379 shares of the bank’s stock valued at $48,348,000 after buying an additional 37,465 shares during the period. FMR LLC raised its stake in shares of Hanmi Financial Corporation by 16.7% in the second quarter. FMR LLC now owns 1,576,609 shares of the bank’s stock valued at $44,855,000 after buying an additional

A number of other brokerages have also commented on HAFC. Piper Jaffray Companies reiterated a hold rating and set a $31.00 price target on shares of Hanmi Financial Corporation in a report on Friday. ValuEngine upgraded Hanmi Financial Corporation from a hold rating to a buy rating in a report on Wednesday, September 27th. Zacks Investment Research lowered Hanmi Financial Corporation from a hold rating to a sell rating in a report on Thursday, July 20th. Finally, BidaskClub lowered Hanmi Financial Corporation from a sell rating to a strong sell rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $31.00.

Shares of Hanmi Financial Corporation (NASDAQ:HAFC) opened at 31.50 on Friday. The company has a market cap of $1.01 billion, a PE ratio of 18.31 and a beta of 0.81. The company has a 50-day moving average price of $28.25 and a 200-day moving average price of $28.46. Hanmi Financial Corporation has a 1-year low of $22.78 and a 1-year high of $35.85.

Hanmi Financial Corporation (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, July 18th. The bank reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $52.88 million for the quarter, compared to analyst estimates of $50.85 million. Hanmi Financial Corporation had a return on equity of 10.41% and a net margin of 24.79%. During the same period last year, the company posted $0.44 earnings per share. Equities research analysts expect that Hanmi Financial Corporation will post $1.82 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Keefe, Bruyette & Woods Reiterates $28.00 Price Target for Hanmi Financial Corporation (HAFC)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://ledgergazette.com/2017/10/10/keefe-bruyette-woods-reiterates-28-00-price-target-for-hanmi-financial-corporation-hafc.html.

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Hanmi Financial Corporation by 0.6% in the second quarter. BlackRock Inc. now owns 4,007,958 shares of the bank’s stock valued at $114,026,000 after buying an additional 24,016 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Hanmi Financial Corporation by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,008,836 shares of the bank’s stock valued at $57,152,000 after buying an additional 95,155 shares during the period. Vanguard Group Inc. raised its stake in shares of Hanmi Financial Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,699,379 shares of the bank’s stock valued at $48,348,000 after buying an additional 37,465 shares during the period. FMR LLC raised its stake in shares of Hanmi Financial Corporation by 16.7% in the second quarter. FMR LLC now owns 1,576,609 shares of the bank’s stock valued at $44,855,000 after buying an additional 226,110 shares during the period. Finally, Thrivent Financial For Lutherans raised its stake in shares of Hanmi Financial Corporation by 2.7% in the second quarter. Thrivent Financial For Lutherans now owns 1,145,173 shares of the bank’s stock valued at $32,580,000 after buying an additional 30,130 shares during the period. Hedge funds and other institutional investors own 88.39% of the company’s stock.

About Hanmi Financial Corporation

Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.

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