Shares of Hanmi Financial Co. (NASDAQ:HAFC – Get Free Report) were up 7% during trading on Thursday after Piper Sandler upgraded the stock from a neutral rating to an overweight rating. Piper Sandler now has a $25.50 price target on the stock, up from their previous price target of $20.00. Hanmi Financial traded as high as $23.07 and last traded at $23.07. Approximately 191,972 shares were traded during trading, a decline of 17% from the average daily volume of 232,657 shares. The stock had previously closed at $21.56.
A number of other equities research analysts have also recently issued reports on the company. DA Davidson boosted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded Hanmi Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd.
Read Our Latest Analysis on HAFC
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Hanmi Financial Stock Performance
The company has a fifty day moving average of $19.26 and a two-hundred day moving average of $17.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $701.03 million, a price-to-earnings ratio of 8.98 and a beta of 0.87.
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $108.86 million for the quarter, compared to analysts’ expectations of $59.23 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same period in the previous year, the business posted $0.62 earnings per share. Equities research analysts anticipate that Hanmi Financial Co. will post 1.97 EPS for the current year.
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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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