JPMorgan Chase & Co. Increases Stock Position in Hanmi Financial Co. (NASDAQ:HAFC)

JPMorgan Chase & Co. raised its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 71.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 836,145 shares of the bank's stock after purchasing an additional 349,339 shares during the period. JPMorgan Chase & Co. owned 2.77% of Hanmi Financial worth $15,552,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Point72 DIFC Ltd purchased a new position in Hanmi Financial during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new stake in Hanmi Financial during the 3rd quarter valued at $49,000. Point72 Asia Singapore Pte. Ltd. increased 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 acquiring an additional 1,207 shares during the period. Marshall Wace LLP bought a new position in shares of Hanmi Financial in the 2nd quarter worth $168,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Hanmi Financial by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank's stock worth $193,000 after purchasing an additional 911 shares during the last quarter. Institutional investors own 88.66% of the company's stock.

Hanmi Financial Stock Performance

NASDAQ:HAFC traded down $0.96 during trading hours on Friday, hitting $21.39. 239,784 shares of the company were exchanged, compared to its average volume of 204,131. The company's 50 day moving average price is $24.76 and its 200-day moving average price is $21.09. The stock has a market capitalization of $645.89 million, a price-to-earnings ratio of 10.28 and a beta of 0.89. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $27.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $59.23 million. During the same period in the prior year, the firm earned $0.62 EPS. As a group, research analysts forecast that Hanmi Financial Co. will post 2 earnings per share for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, November 4th. Hanmi Financial's dividend payout ratio (DPR) is 48.08%.

Wall Street Analyst Weigh In

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

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.