Hanmi Financial Co. (NASDAQ:HAFC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 3.3% during the first quarter, Holdings Channel.com reports. The fund owned 200,831 shares of the bank’s stock after selling 6,875 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Hanmi Financial were worth $3,197,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HAFC. GAMMA Investing LLC acquired a new position in shares of Hanmi Financial during the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Hanmi Financial during the 4th quarter valued at $37,000. Simplex Trading LLC boosted its stake in shares of Hanmi Financial by 1,406.7% during the 4th quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock valued at $39,000 after buying an additional 1,899 shares during the period. CWM LLC boosted its stake in shares of Hanmi Financial by 291.6% during the 4th quarter. CWM LLC now owns 2,232 shares of the bank’s stock valued at $43,000 after buying an additional 1,662 shares during the period. Finally, Federated Hermes Inc. bought a new position in shares of Hanmi Financial during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Hanmi Financial stock traded up $0.48 during trading hours on Wednesday, hitting $20.53. 142,659 shares of the stock were exchanged, compared to its average volume of 249,156. Hanmi Financial Co. has a 12 month low of $13.87 and a 12 month high of $20.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50-day moving average is $16.75 and its two-hundred day moving average is $16.11. The stock has a market capitalization of $623.91 million, a P/E ratio of 8.35 and a beta of 0.90.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $106.72 million for the quarter, compared to analysts’ expectations of $59.07 million. During the same period in the prior year, the firm earned $0.67 earnings per share. Equities research analysts expect that Hanmi Financial Co. will post 1.99 EPS 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. Shareholders of record on Monday, August 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 4.87%. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analysts Forecast Growth

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

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.