Hanmi Financial Co. (NASDAQ:HAFC – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Wednesday 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 $21.38 and last traded at $21.23, with a volume of 38224 shares. The stock had previously closed at $20.13.
Several other analysts have also weighed in on HAFC. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday. DA Davidson increased their target price on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd.
View Our Latest Stock Report on HAFC
Institutional Investors Weigh In On Hanmi Financial
Hanmi Financial Stock Performance
The stock has a market cap of $700.12 million, a P/E ratio of 9.60 and a beta of 0.87. The stock has a fifty day simple moving average of $19.35 and a 200-day simple moving average of $17.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60.
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $108.86 million for the quarter, compared to analyst estimates of $59.23 million. During the same quarter last year, the firm earned $0.62 EPS. Equities analysts expect that Hanmi Financial Co. will post 1.97 earnings per share for the current fiscal 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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