Arrowstreet Capital Limited Partnership Sells 49,678 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Arrowstreet Capital Limited Partnership reduced its stake in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 324,148 shares of the bank's stock after selling 49,678 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.07% of Hanmi Financial worth $7,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Hanmi Financial by 71.8% during the third quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank's stock valued at $15,552,000 after purchasing an additional 349,339 shares in the last quarter. Barclays PLC boosted its stake in Hanmi Financial by 74.0% during the third quarter. Barclays PLC now owns 67,158 shares of the bank's stock valued at $1,248,000 after buying an additional 28,561 shares during the last quarter. Amundi grew its holdings in Hanmi Financial by 213.3% during the 4th quarter. Amundi now owns 15,115 shares of the bank's stock valued at $338,000 after buying an additional 10,290 shares in the last quarter. Jane Street Group LLC increased its stake in Hanmi Financial by 24.7% in the 3rd quarter. Jane Street Group LLC now owns 60,051 shares of the bank's stock worth $1,117,000 after acquiring an additional 11,911 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Hanmi Financial by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 489,126 shares of the bank's stock worth $11,553,000 after acquiring an additional 41,020 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Trading Down 0.3 %

NASDAQ HAFC traded down $0.06 during trading hours on Friday, hitting $20.45. 234,925 shares of the company were exchanged, compared to its average volume of 207,080. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $22.79 and a 200 day moving average price of $23.06. The stock has a market cap of $618.29 million, a PE ratio of 9.98 and a beta of 0.68.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. Analysts forecast that Hanmi Financial Co. will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were paid a $0.27 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.08 annualized dividend and a dividend yield of 5.28%. This is an increase from Hanmi Financial's previous quarterly dividend of $0.25. Hanmi Financial's dividend payout ratio is currently 52.68%.

Analyst Upgrades and Downgrades

Separately, DA Davidson restated a "neutral" rating and issued a $27.50 price target on shares of Hanmi Financial in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $25.75.

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.