Hanmi Financial (NASDAQ:HAFC) Downgraded by TheStreet

TheStreet cut shares of Hanmi Financial (NASDAQ:HAFC) from a b- rating to a c+ rating in a research note issued to investors on Monday morning, TheStreetRatingsTable reports.

Several other equities research analysts have also recently commented on HAFC. Zacks Investment Research raised shares of Hanmi Financial from a sell rating to a hold rating in a research report on Wednesday, August 7th. ValuEngine raised shares of Hanmi Financial from a strong sell rating to a sell rating in a research report on Thursday, April 25th. DA Davidson cut shares of Hanmi Financial from a buy rating to a neutral rating and dropped their target price for the stock from $27.00 to $21.50 in a research report on Monday. Finally, BidaskClub raised shares of Hanmi Financial from a sell rating to a hold rating in a research report on Saturday, June 29th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $24.17.

NASDAQ:HAFC opened at $17.83 on Monday. The company has a 50-day moving average price of $21.21 and a 200-day moving average price of $21.89. Hanmi Financial has a 12 month low of $17.56 and a 12 month high of $26.92. 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 stock has a market cap of $551.45 million, a price-to-earnings ratio of 9.38, a P/E/G ratio of 1.11 and a beta of 1.10.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 9th will be given a $0.24 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.96 annualized dividend and a dividend yield of 5.38%. Hanmi Financial’s dividend payout ratio is 50.53%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC purchased a new position in Hanmi Financial during the second quarter valued at approximately $8,240,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Hanmi Financial by 32.0% in the second quarter. UBS Asset Management Americas Inc. now owns 16,651 shares of the bank’s stock worth $371,000 after buying an additional 4,032 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of Hanmi Financial by 23.7% in the second quarter. Citadel Advisors LLC now owns 121,721 shares of the bank’s stock worth $2,711,000 after buying an additional 23,305 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Hanmi Financial by 73.6% in the second quarter. Morgan Stanley now owns 167,647 shares of the bank’s stock worth $3,734,000 after buying an additional 71,089 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Hanmi Financial by 11.6% in the second quarter. Bank of America Corp DE now owns 49,626 shares of the bank’s stock worth $1,105,000 after buying an additional 5,157 shares in the last quarter. 88.19% of the stock is owned by 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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