Hanmi Financial (NASDAQ:HAFC) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a sell rating in a report released on Saturday, June 22nd, BidAskClub reports.

A number of other analysts have also issued reports on HAFC. Zacks Investment Research raised Hanmi Financial from a sell rating to a hold rating in a research note on Thursday, June 20th. ValuEngine lowered Ultrapar Participacoes from a sell rating to a strong sell rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $27.33.

Shares of HAFC traded up $0.22 during trading hours on Friday, reaching $22.12. 102,668 shares of the company traded hands, compared to its average volume of 133,955. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $684.13 million, a PE ratio of 11.64, a PEG ratio of 1.32 and a beta of 1.09. Hanmi Financial has a fifty-two week low of $17.56 and a fifty-two week high of $28.20. The company’s fifty day moving average price is $21.63.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Hanmi Financial had a return on equity of 10.71% and a net margin of 21.65%. The business had revenue of $51.14 million for the quarter, compared to analyst estimates of $51.20 million. On average, equities analysts forecast that Hanmi Financial will post 2.09 EPS for the current fiscal year.

In other news, Director Joseph K. Rho sold 21,204 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $22.79, for a total value of $483,239.16. Following the transaction, the director now directly owns 300,839 shares in the company, valued at approximately $6,856,120.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph K. Rho sold 16,800 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $22.51, for a total value of $378,168.00. Following the completion of the transaction, the director now owns 301,139 shares in the company, valued at $6,778,638.89. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC raised its holdings in shares of Hanmi Financial by 30.3% in the 4th quarter. Flinton Capital Management LLC now owns 5,544 shares of the bank’s stock worth $109,000 after purchasing an additional 1,288 shares during the period. 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 during the period. Neuburgh Advisers LLC raised its holdings in shares of Hanmi Financial by 30.3% in the 4th quarter. Neuburgh Advisers LLC now owns 6,732 shares of the bank’s stock worth $133,000 after purchasing an additional 1,564 shares during the period. Anderson Fisher LLC purchased a new position in shares of Hanmi Financial in the 1st quarter worth about $173,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Hanmi Financial by 356.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,604 shares of the bank’s stock worth $209,000 after purchasing an additional 8,281 shares during the period. Institutional investors own 89.65% of the company’s stock.

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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