Hanmi Financial (NASDAQ:HAFC) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a sell rating in a research note released on Thursday morning, BidAskClub reports.

HAFC has been the topic of several other research reports. TheStreet lowered Hanmi Financial from a b- rating to a c+ rating in a research note on Monday, August 12th. DA Davidson lowered Hanmi Financial from a buy rating to a neutral rating and decreased their price target for the stock from $27.00 to $21.50 in a research note on Monday, August 12th. Zacks Investment Research raised Hanmi Financial from a sell rating to a hold rating in a research note on Thursday. Finally, ValuEngine raised Hanmi Financial from a strong sell rating to a sell rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $24.17.

Shares of NASDAQ:HAFC opened at $18.18 on Thursday. The business’s 50 day simple moving average is $21.14 and its 200-day simple moving average is $21.87. The firm has a market capitalization of $551.45 million, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.97 and a quick ratio of 0.97. Hanmi Financial has a 12 month low of $17.56 and a 12 month high of $26.92.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Thursday, August 8th. Hanmi Financial’s dividend payout ratio (DPR) is 50.53%.

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Hanmi Financial by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 376,391 shares of the bank’s stock worth $7,414,000 after purchasing an additional 10,521 shares during the last quarter. Bank of America Corp DE boosted its position in Hanmi Financial by 149.9% in the fourth quarter. Bank of America Corp DE now owns 53,442 shares of the bank’s stock worth $1,052,000 after purchasing an additional 32,054 shares during the last quarter. FMR LLC boosted its position in Hanmi Financial by 21.4% in the fourth quarter. FMR LLC now owns 2,405,682 shares of the bank’s stock worth $47,391,000 after purchasing an additional 424,788 shares during the last quarter. American Century Companies Inc. boosted its position in Hanmi Financial by 21.1% in the fourth quarter. American Century Companies Inc. now owns 71,166 shares of the bank’s stock worth $1,402,000 after purchasing an additional 12,404 shares during the last quarter. Finally, Foundry Partners LLC boosted its position in Hanmi Financial by 9.6% in the first quarter. Foundry Partners LLC now owns 303,305 shares of the bank’s stock worth $6,451,000 after purchasing an additional 26,475 shares during the last quarter. 88.19% of the stock is currently owned by institutional investors and hedge funds.

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. 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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