Hanmi Financial (NASDAQ:HAFC – Get Free Report)‘s stock had its “neutral” rating reaffirmed by research analysts at Brean Capital in a research report issued on Thursday, MarketBeat.com reports. They presently have a $32.00 price objective on the bank’s stock. Brean Capital’s price objective indicates a potential upside of 7.33% from the company’s current price.
A number of other analysts have also commented on the company. Piper Sandler boosted their price target on Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price on Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Finally, DA Davidson restated a “neutral” rating and issued a $29.50 target price on shares of Hanmi Financial in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Hanmi Financial currently has an average rating of “Hold” and a consensus price target of $32.10.
View Our Latest Report on Hanmi Financial
Hanmi Financial Stock Down 2.1%
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $134.95 million for the quarter, compared to analysts’ expectations of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. Analysts anticipate that Hanmi Financial will post 3.16 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the sale, the insider owned 34,002 shares in the company, valued at approximately $1,048,281.66. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. bought a new position in shares of Hanmi Financial in the fourth quarter valued at $7,276,000. Goldman Sachs Group Inc. raised its position in Hanmi Financial by 30.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock worth $21,260,000 after acquiring an additional 181,509 shares in the last quarter. Rhino Investment Partners Inc lifted its stake in Hanmi Financial by 27.1% in the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after acquiring an additional 167,485 shares during the last quarter. Millennium Management LLC lifted its stake in Hanmi Financial by 237.1% in the fourth quarter. Millennium Management LLC now owns 178,125 shares of the bank’s stock valued at $4,815,000 after acquiring an additional 125,292 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Hanmi Financial by 47.1% in the 4th quarter. Renaissance Technologies LLC now owns 322,852 shares of the bank’s stock valued at $8,727,000 after acquiring an additional 103,300 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.
Hanmi Financial Company Profile
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.
Featured Articles
- Five stocks we like better than Hanmi Financial
- Semtech’s Explosive Rally May Only Be Getting Started
- Hims & Hers Eyes Global Growth: Will $1.15B Eucalyptus Deal Fuel Its Recovery or Dilute Shareholders?
- The Food Delivery War Just Entered Its Final Phase
- Bath & Body Works Stock Surged Despite Falling Sales—Here’s Why
Receive News & Ratings for Hanmi Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial and related companies with MarketBeat.com's FREE daily email newsletter.
