Hanmi Financial upgraded to Overweight at Piper on ‘much better’ outlook

Piper Sandler analyst Matthew Clark upgraded Hanmi Financial (HAFC) to Overweight from Neutral with a price target of $25.50, up from $20, citing what the firm calls a “much better” net interest margin outlook and core deposit funded loan growth traction. The firm raised its 2024 and 2025 EPS forecasts to $2.03 and $2.43 from $1.95 and $2.00, respectively.