Assenagon Asset Management S.A. reduced its stake in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,958 shares of the bank's stock after selling 93,286 shares during the period. Assenagon Asset Management S.A. owned approximately 1.00% of Hanmi Financial worth $7,132,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in HAFC. Point72 DIFC Ltd acquired a new position in shares of Hanmi Financial in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc raised its holdings in shares of Hanmi Financial by 110.7% during the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank's stock worth $47,000 after purchasing an additional 1,035 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Hanmi Financial in the 3rd quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Hanmi Financial by 47.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank's stock valued at $63,000 after buying an additional 1,207 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Hanmi Financial in the 2nd quarter valued at about $168,000. 88.66% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on HAFC. Piper Sandler upgraded Hanmi Financial from a "neutral" rating to an "overweight" rating and raised their target price for the company from $20.00 to $25.50 in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Wedbush restated a "neutral" rating and issued a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. DA Davidson lifted their price target on Hanmi Financial from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, Janney Montgomery Scott upgraded Hanmi Financial from a "neutral" rating to a "buy" rating in a research report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $24.38.
Read Our Latest Research Report on HAFC
Hanmi Financial Price Performance
Shares of NASDAQ:HAFC traded up $0.12 during trading on Monday, reaching $22.74. The company had a trading volume of 107,318 shares, compared to its average volume of 188,956. The firm's fifty day moving average is $24.59 and its 200 day moving average is $21.34. 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 capitalization of $686.75 million, a PE ratio of 10.93 and a beta of 0.89. Hanmi Financial Co. has a twelve month low of $14.45 and a twelve month high of $27.59.
Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released 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 firm had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that Hanmi Financial Co. will post 2 EPS for the current year.
Hanmi Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders 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 annualized dividend and a dividend yield of 4.40%. Hanmi Financial's dividend payout ratio (DPR) is 48.08%.
Hanmi Financial Profile
(
Free Report)
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.
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