Keefe Bruyette & Woods Reiterates Long-Term Forecast For HAFC

In a recent report, Keefe, Bruyette & Woods has reiterated the long-term forecast on Hanmi Financial HAFC with a $1.00 price target and $0.10 estimate EPS rating. The report came after HAFC had an EPS of $0.07 for 1Q, the second quarterly profit. In the report, KBW said, "The improvement in earnings came from the release of loan loss reserves and from a tax benefit. But, credit recovery earnings are finite and do not alter the fundamental pre-provision profitability of the bank; our long-term forecast for HAFC is unchanged despite the beat." HAFC closed yesterday at $1.20.