Prudential Financial Inc. Raises Stock Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

Prudential Financial Inc. lifted its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 53.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 182,031 shares of the bank's stock after acquiring an additional 63,300 shares during the period. Prudential Financial Inc. owned approximately 0.60% of Hanmi Financial worth $4,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Hanmi Financial by 227.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank's stock worth $25,000 after purchasing an additional 747 shares in the last quarter. Savant Capital LLC increased its stake in Hanmi Financial by 4.4% in the 4th quarter. Savant Capital LLC now owns 18,243 shares of the bank's stock worth $431,000 after purchasing an additional 776 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hanmi Financial by 1.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,303 shares of the bank's stock valued at $1,944,000 after purchasing an additional 877 shares during the period. Versant Capital Management Inc grew its holdings in shares of Hanmi Financial by 110.7% in 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 last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Hanmi Financial by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 25,554 shares of the bank's stock worth $604,000 after buying an additional 1,119 shares during the period. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

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Hanmi Financial Trading Down 1.8 %

Hanmi Financial stock traded down $0.37 during mid-day trading on Friday, reaching $20.62. 303,384 shares of the company traded hands, compared to its average volume of 201,763. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $27.59. The firm's 50 day moving average price is $23.26 and its 200 day moving average price is $22.97. The firm has a market capitalization of $622.67 million, a price-to-earnings ratio of 10.07 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. On average, analysts anticipate 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. Shareholders of record on Monday, February 10th were issued a $0.27 dividend. This is an increase from Hanmi Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a yield of 5.24%. Hanmi Financial's dividend payout ratio is currently 52.68%.

Analysts Set New Price Targets

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

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.