Charles Schwab Investment Management Inc. Sells 42,047 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Charles Schwab Investment Management Inc. trimmed its stake in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 384,232 shares of the bank's stock after selling 42,047 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.27% of Hanmi Financial worth $7,147,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Hanmi Financial in the second quarter valued at $322,000. Texas Permanent School Fund Corp lifted its stake in Hanmi Financial by 129.0% in the second quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank's stock valued at $1,002,000 after acquiring an additional 33,747 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Hanmi Financial in the 2nd quarter valued at about $534,000. Acadian Asset Management LLC increased its stake in shares of Hanmi Financial by 71.8% during the 2nd 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. Finally, Bank of Montreal Can bought a new stake in shares of Hanmi Financial in the 2nd quarter valued at about $2,979,000. Institutional investors and hedge funds own 88.66% of the company's stock.

Hanmi Financial Stock Performance

NASDAQ:HAFC traded down $0.33 during mid-day trading on Thursday, hitting $26.06. 168,750 shares of the stock were exchanged, compared to its average volume of 228,411. The firm's 50-day simple moving average is $23.65 and its 200 day simple moving average is $19.87. The stock has a market capitalization of $786.91 million, a price-to-earnings ratio of 12.53 and a beta of 0.87. Hanmi Financial Co. has a fifty-two week low of $14.45 and a fifty-two week high of $27.59. 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 (NASDAQ:HAFC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting analysts' consensus estimates of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The company had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, equities analysts anticipate that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.84%. Hanmi Financial's payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wedbush reiterated a "neutral" rating and set a $21.00 price target on shares of Hanmi Financial in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $29.00 target price (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Janney Montgomery Scott upgraded Hanmi Financial from a "neutral" rating to a "buy" rating in a research note on Friday, November 15th. Piper Sandler raised shares of Hanmi Financial from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Finally, DA Davidson upped their price objective on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $24.38.

Hanmi Financial 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.