Algert Global LLC Reduces Stake in Hanmi Financial Co. (NASDAQ:HAFC)

Algert Global LLC lessened its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 170,847 shares of the bank’s stock after selling 6,300 shares during the period. Algert Global LLC owned 0.57% of Hanmi Financial worth $3,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Hanmi Financial during the third quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after buying an additional 1,207 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Hanmi Financial during the 2nd quarter valued at approximately $168,000. EMC Capital Management lifted its holdings in Hanmi Financial by 8.9% in the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock valued at $187,000 after acquiring an additional 958 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Hanmi Financial by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after acquiring an additional 911 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on HAFC. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $20.00 to $25.50 in a research note on Thursday, October 24th. Wedbush reaffirmed a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Janney Montgomery Scott raised shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Finally, DA Davidson boosted their target price on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.63.

Hanmi Financial Trading Up 1.1 %

NASDAQ HAFC opened at $26.84 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $810.46 million, a price-to-earnings ratio of 12.90 and a beta of 0.84. The firm has a 50 day simple moving average of $21.75 and a 200-day simple moving average of $19.02. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $108.86 million during the quarter, compared to analysts’ expectations of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same quarter last year, the company posted $0.62 EPS. Equities research analysts anticipate that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.73%. Hanmi Financial’s dividend payout ratio (DPR) is 48.08%.

Hanmi Financial Company Profile

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.