Hanmi Financial (NASDAQ:HAFC) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a sell rating to a hold rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Hanmi Financial Corporation is the holding company for Hanmi Bank, one of the leading banks providing services to the multi-ethnic communities of Southern California with full service offices. Hanmi Bank is a business bank conducting a general community banking business, with its primary market encompassing multi-ethnic small business customers. The bank specializes in commercial, SBA, trade finance, and consumer lending and is a recognized community leader serving the diverse communities throughout Southern California. (PRESS RELEASE) “

Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Hanmi Financial from a sell rating to a hold rating in a report on Saturday, June 29th. DA Davidson cut 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 report on Monday, August 12th. TheStreet cut Hanmi Financial from a b- rating to a c+ rating in a research report on Monday, August 12th. Finally, ValuEngine upgraded Hanmi Financial from a strong sell rating to a sell rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Hanmi Financial has an average rating of Hold and a consensus target price of $24.17.

Shares of NASDAQ:HAFC opened at $18.18 on Thursday. Hanmi Financial has a 12-month low of $17.56 and a 12-month high of $26.92. The business’s fifty day simple moving average is $21.14 and its 200-day simple moving average is $21.87. The company has a market capitalization of $551.45 million, a PE ratio of 9.29, a P/E/G ratio of 1.10 and a beta of 1.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21.

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

Large investors have recently bought and sold shares of the stock. Quantamental Technologies LLC purchased a new position in Hanmi Financial in the second quarter valued at $34,000. BNP Paribas Arbitrage SA boosted its position in shares of Hanmi Financial by 52,675.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,333 shares of the bank’s stock valued at $135,000 after acquiring an additional 6,321 shares during the last quarter. Anderson Fisher LLC bought a new stake in shares of Hanmi Financial during the 1st quarter valued at about $173,000. Stone Ridge Asset Management LLC bought a new stake in shares of Hanmi Financial during the 2nd quarter valued at about $205,000. Finally, Zebra Capital Management LLC bought a new stake in shares of Hanmi Financial during the 2nd quarter valued at about $221,000. 88.19% of the stock is currently owned by hedge funds and other institutional investors.

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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