Hanmi Financial (NASDAQ:HAFC) Stock Price Up 5.8% – Still a Buy?

Hanmi Financial Corporation (NASDAQ:HAFC) traded up 5.8% during mid-day trading on Thursday . The stock traded as high as $26.44 and last traded at $26.2170. 92,655 shares were traded during trading, a decline of 66% from the average session volume of 272,238 shares. The stock had previously closed at $24.77.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. DA Davidson reaffirmed a “neutral” rating and set a $29.50 target price on shares of Hanmi Financial in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. Finally, Zacks Research cut shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.33.

Hanmi Financial Price Performance

The stock has a market cap of $786.64 million, a P/E ratio of 10.99 and a beta of 0.72. The business has a 50 day simple moving average of $28.07 and a 200-day simple moving average of $26.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Hanmi Financial had a return on equity of 9.95% and a net margin of 17.10%.The company had revenue of $134.06 million during the quarter, compared to analysts’ expectations of $71.40 million. On average, sell-side analysts forecast that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Hanmi Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Unison Advisors LLC raised its stake in shares of Hanmi Financial by 1.1% in the fourth quarter. Unison Advisors LLC now owns 32,259 shares of the bank’s stock valued at $872,000 after buying an additional 356 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Hanmi Financial by 17.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock worth $66,000 after acquiring an additional 394 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Hanmi Financial by 15.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock valued at $100,000 after acquiring an additional 531 shares during the period. Cerity Partners LLC raised its stake in Hanmi Financial by 1.7% in the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock valued at $908,000 after acquiring an additional 632 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hanmi Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock valued at $405,000 after purchasing an additional 780 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

About Hanmi Financial

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.