Hotchkis & Wiley Capital Management LLC Sells 154,290 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 19.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 641,179 shares of the bank's stock after selling 154,290 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 2.12% of Hanmi Financial worth $11,926,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Hanmi Financial in the third quarter valued at approximately $49,000. Point72 Asia Singapore Pte. Ltd. lifted its stake 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 acquiring an additional 1,207 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Hanmi Financial in the 2nd quarter valued at $168,000. The Manufacturers Life Insurance Company increased its holdings in Hanmi Financial by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank's stock valued at $193,000 after purchasing an additional 911 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in Hanmi Financial in the third quarter valued at $220,000. Institutional investors and hedge funds own 88.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. DA Davidson increased their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. 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 raised their price target for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. Wedbush reaffirmed a "neutral" rating and issued a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.38.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC traded up $0.13 during mid-day trading on Wednesday, reaching $25.74. 241,722 shares of the company were exchanged, compared to its average volume of 229,769. 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 0.58. The stock has a market capitalization of $777.35 million, a PE ratio of 12.38 and a beta of 0.87. The company's 50 day moving average price is $22.76 and its 200 day moving average price is $19.48.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same period in the previous year, the firm posted $0.62 earnings per share. Sell-side analysts forecast that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Monday, November 4th. Hanmi Financial's dividend payout ratio is currently 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.