Hanmi Financial Corporation (NASDAQ:HAFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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) “
HAFC has been the subject of a number of other reports. FBR & Co reiterated a “buy” rating on shares of Hanmi Financial Corporation in a report on Wednesday, November 2nd. FIG Partners downgraded Hanmi Financial Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Hanmi Financial Corporation presently has a consensus rating of “Hold” and an average price target of $31.40.
Shares of Hanmi Financial Corporation (NASDAQ:HAFC) traded up 1.81% during mid-day trading on Tuesday, hitting $33.80. The stock had a trading volume of 126,966 shares. The firm’s 50 day moving average price is $34.07 and its 200 day moving average price is $29.12. The company has a market cap of $1.08 billion, a P/E ratio of 19.31 and a beta of 0.98. Hanmi Financial Corporation has a 1-year low of $20.05 and a 1-year high of $35.85.
Hanmi Financial Corporation (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 24th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Hanmi Financial Corporation had a return on equity of 10.81% and a net margin of 26.70%. Analysts predict that Hanmi Financial Corporation will post $1.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Shareholders of record on Tuesday, February 7th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, February 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.25%. Hanmi Financial Corporation’s dividend payout ratio (DPR) is currently 43.18%.
“Hanmi Financial Corporation (HAFC) Rating Lowered to Sell at Zacks Investment Research” was first reported by sleekmoney and is the property of of sleekmoney. If you are viewing this article on another website, it was illegally copied and reposted in violation of US and international trademark & copyright law. The original version of this article can be accessed at http://sleekmoney.com/hanmi-financial-corporation-hafc-rating-lowered-to-sell-at-zacks-investment-research/1661313.html.
In other Hanmi Financial Corporation news, insider Greg D. Kim sold 1,000 shares of Hanmi Financial Corporation stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $31.30, for a total transaction of $31,300.00. Following the completion of the transaction, the insider now owns 25,469 shares in the company, valued at approximately $797,179.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.91% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in HAFC. AQR Capital Management LLC increased its position in Hanmi Financial Corporation by 65.9% in the fourth quarter. AQR Capital Management LLC now owns 294,653 shares of the company’s stock worth $10,283,000 after buying an additional 117,043 shares during the period. A.R.T. Advisors LLC bought a new position in Hanmi Financial Corporation during the fourth quarter worth about $202,000. Public Sector Pension Investment Board increased its position in Hanmi Financial Corporation by 4.1% in the fourth quarter. Public Sector Pension Investment Board now owns 22,927 shares of the company’s stock worth $800,000 after buying an additional 900 shares during the period. FMR LLC increased its position in Hanmi Financial Corporation by 4.6% in the fourth quarter. FMR LLC now owns 1,332,499 shares of the company’s stock worth $46,505,000 after buying an additional 58,099 shares during the period. Finally, Federated Investors Inc. PA purchased a new position in Hanmi Financial Corporation during the fourth quarter valued at approximately $192,000. Institutional investors and hedge funds own 86.36% of the company’s stock.
Hanmi Financial Corporation Company Profile
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/hanmi-financial-corporation-hafc-rating-lowered-to-sell-at-zacks-investment-research/1661313.html
Receive News & Ratings for Hanmi Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.