Hanmi Financial (NASDAQ:HAFC) Cut to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Hanmi Financial (NASDAQ:HAFC) from a sell rating to a strong sell rating in a research report report published on Wednesday, ValuEngine reports.

A number of other research analysts have also issued reports on the stock. TheStreet lowered shares of Hanmi Financial from a b- rating to a c+ rating in a research note on Monday, August 12th. DA Davidson lowered shares of Hanmi Financial from a buy rating to a neutral rating and reduced their price target for the stock from $27.00 to $21.50 in a research note on Monday, August 12th. BidaskClub lowered shares of Hanmi Financial from a hold rating to a sell rating in a research note on Thursday, August 15th. Finally, Zacks Investment Research raised shares of Hanmi Financial from a sell rating to a hold rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $24.17.

Hanmi Financial stock opened at $17.33 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $21.74. The firm has a market capitalization of $557.63 million, a price-to-earnings ratio of 9.39 and a beta of 1.10. Hanmi Financial has a 52-week low of $17.24 and a 52-week high of $26.92.

The business 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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Thursday, August 8th. Hanmi Financial’s dividend payout ratio is currently 50.53%.

Several large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of Hanmi Financial by 52,675.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,333 shares of the bank’s stock worth $135,000 after purchasing an additional 6,321 shares in the last quarter. Janney Capital Management LLC raised its holdings in shares of Hanmi Financial by 13.9% in the 2nd quarter. Janney Capital Management LLC now owns 15,081 shares of the bank’s stock worth $336,000 after purchasing an additional 1,844 shares in the last quarter. Anderson Fisher LLC bought a new stake in shares of Hanmi Financial in the 1st quarter worth approximately $173,000. Systematic Financial Management LP raised its holdings in shares of Hanmi Financial by 1.4% in the 1st quarter. Systematic Financial Management LP now owns 577,350 shares of the bank’s stock worth $12,280,000 after purchasing an additional 7,925 shares in the last quarter. Finally, Foundry Partners LLC raised its holdings in shares of Hanmi Financial by 9.6% in the 1st 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 in the last quarter. 88.74% 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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