Jacobs Levy Equity Management Inc. Sells 6,875 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Jacobs Levy Equity Management Inc. decreased its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,831 shares of the bank’s stock after selling 6,875 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.66% of Hanmi Financial worth $3,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Caxton Associates LP purchased a new position in Hanmi Financial during the first quarter valued at $233,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Hanmi Financial by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 66,605 shares of the bank’s stock worth $1,061,000 after buying an additional 3,328 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Hanmi Financial in the first quarter worth approximately $213,000. EntryPoint Capital LLC raised its holdings in shares of Hanmi Financial by 278.4% in the first quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after buying an additional 6,242 shares during the period. Finally, Shell Asset Management Co. increased its holdings in Hanmi Financial by 13.7% during the 1st quarter. Shell Asset Management Co. now owns 17,786 shares of the bank’s stock worth $283,000 after purchasing an additional 2,146 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Trading Up 2.4 %

HAFC traded up $0.48 during trading hours on Wednesday, reaching $20.53. The company’s stock had a trading volume of 142,659 shares, compared to its average volume of 249,156. Hanmi Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $20.90. The stock has a market cap of $623.91 million, a PE ratio of 8.35 and a beta of 0.90. The business’s 50-day moving average is $16.75 and its 200-day moving average is $16.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. The company had revenue of $106.72 million for the quarter, compared to analyst estimates of $59.07 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. As a group, equities research analysts predict that Hanmi Financial Co. will post 1.99 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Monday, August 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.87%. Hanmi Financial’s payout ratio is currently 41.67%.

Analysts Set New Price Targets

Several research analysts have commented on the company. DA Davidson raised their price objective on Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $18.00 price objective (down previously from $18.50) on shares of Hanmi Financial in a research report on Wednesday, April 24th. Finally, Wedbush raised their target price on Hanmi Financial from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

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.