Hanmi Financial dips after KBW downgrades to 'market perform'

Hanmi Financial

04/12/2024 19:27

** Shares of regional lender Hanmi Financial  HAFC.O  fall
as much as 3.7%; last down 0.8% at $25.41
    ** KBW downgrades HAFC to "market perform" from "outperform"
due to valuation after a strong run in stock performance
    ** Brokerage says HAFC has been the best performing small-
and mid-cap bank stock QTD, with its shares now trading in line
with its closest peers 
    ** Prior positive call on HAFC was informed by valuation
that was highly discounted to its peer group — KBW
    ** Still, brokerage says the strength of HAFC's fundamentals
remains fully intact
    ** Two of six brokerages rate the stock "buy" or higher and
four "hold"; median PT is $25.50 — LSEG
    ** As of last close, HAFC shares up 32% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))