Hanmi Financial Co. (NASDAQ:HAFC) Shares Sold by Algert Global LLC

Algert Global LLC lowered its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 3.6% in the third quarter, HoldingsChannel.com reports. The firm owned 170,847 shares of the bank’s stock after selling 6,300 shares during the quarter. Algert Global LLC’s holdings in Hanmi Financial were worth $3,178,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in Hanmi Financial by 32.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock worth $17,937,000 after buying an additional 261,545 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Hanmi Financial by 71.8% during the second quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after purchasing an additional 201,789 shares during the last quarter. Bank of Montreal Can acquired a new position in Hanmi Financial in the second quarter valued at approximately $2,979,000. Assenagon Asset Management S.A. increased its stake in Hanmi Financial by 66.5% in the third quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock valued at $7,352,000 after purchasing an additional 157,792 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its holdings in Hanmi Financial by 20.6% during the third quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock worth $10,622,000 after purchasing an additional 97,500 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

HAFC has been the topic of a number of recent analyst reports. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their target price for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush restated a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Finally, DA Davidson boosted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Hanmi Financial Price Performance

Shares of 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. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59. The company has a 50-day simple moving average of $21.75 and a 200-day simple moving average of $19.02. The stock has a market capitalization of $810.46 million, a price-to-earnings ratio of 12.90 and a beta of 0.84.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates 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 return on equity of 8.87% and a net margin of 14.80%. During the same period last year, the firm earned $0.62 EPS. On average, analysts predict that Hanmi Financial Co. will post 2 EPS for the current year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 3.73%. Hanmi Financial’s dividend payout ratio (DPR) is 48.08%.

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.