Keefe, Bruyette & Woods Issues Positive Forecast for Hanmi Financial (NASDAQ:HAFC) Stock Price

Hanmi Financial (NASDAQ:HAFC - Get Free Report) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 21.26% from the company's previous close.

Separately, DA Davidson boosted their target price on shares of Hanmi Financial from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $26.00.

Hanmi Financial Price Performance

NASDAQ HAFC traded down $0.08 during trading hours on Wednesday, reaching $23.09. 237,927 shares of the company's stock were exchanged, compared to its average volume of 160,614. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $697.55 million, a PE ratio of 10.74 and a beta of 0.73. The firm has a fifty day moving average of $24.17 and a 200-day moving average of $23.30. Hanmi Financial has a one year low of $17.37 and a one year high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.12). Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%. The business had revenue of $65.21 million for the quarter, compared to the consensus estimate of $65.70 million. During the same period last year, the firm earned $0.48 earnings per share. On average, equities research analysts predict that Hanmi Financial will post 2.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HAFC. GAMMA Investing LLC grew its holdings in shares of Hanmi Financial by 91.4% during the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after purchasing an additional 681 shares during the last quarter. Quarry LP raised its holdings in Hanmi Financial by 114.3% during the 1st quarter. Quarry LP now owns 1,830 shares of the bank's stock worth $41,000 after purchasing an additional 976 shares during the last quarter. Curat Global LLC acquired a new position in shares of Hanmi Financial in the 1st quarter worth approximately $42,000. US Bancorp DE acquired a new position in Hanmi Financial in the first quarter valued at $42,000. Finally, Quantbot Technologies LP boosted its position in Hanmi Financial by 5,858.5% during the fourth quarter. Quantbot Technologies LP now owns 2,443 shares of the bank's stock valued at $58,000 after acquiring an additional 2,402 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

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.