UPDATE: D.A. Davidson Raises PT on Hanmi Financial from $12.50 to $14.

D.A. Davidson maintained a Buy rating on Hanmi Financial (HAFC) and increased its price target from $12.50 to $14.00. D.A. Davidson wrote, “HAFC continued to make significant strides in the quarter vis-à-vis its credit clean-up, recovered the majority of its DTA, and forecasts lower credit costs, strong second half loan production, and some NIM upside over the near term. Trading modestly below current TBV of $11.02 at 6/30/12 and 15% below 2013 projected TBV of $12.61, we think there remains meaningful upside in this name. Our revised price target represents a 10% premium to year end 2013 TBV; a conservative discount to the current 1.4x multiple for Asian-bank peers.” Hanmi Financial closed at $10.85 on Thursday.