Renaissance Technologies LLC Decreases Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

Renaissance Technologies LLC lowered its holdings in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,252 shares of the bank's stock after selling 46,120 shares during the period. Renaissance Technologies LLC owned about 0.61% of Hanmi Financial worth $4,376,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HAFC. Smartleaf Asset Management LLC boosted its stake in Hanmi Financial by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank's stock valued at $25,000 after acquiring an additional 747 shares during the last quarter. R Squared Ltd purchased a new stake in Hanmi Financial in the 4th quarter worth about $43,000. Versant Capital Management Inc raised its stake in Hanmi Financial by 110.7% in the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank's stock valued at $47,000 after acquiring an additional 1,035 shares during the period. Quantbot Technologies LP lifted its holdings in Hanmi Financial by 5,858.5% during the fourth quarter. Quantbot Technologies LP now owns 2,443 shares of the bank's stock valued at $58,000 after purchasing an additional 2,402 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Hanmi Financial during the fourth quarter worth about $132,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Price Performance

Shares of Hanmi Financial stock traded down $0.48 on Friday, reaching $22.74. The stock had a trading volume of 57,169 shares, compared to its average volume of 206,814. The business's 50 day moving average is $22.32 and its two-hundred day moving average is $23.24. The company has a market cap of $687.49 million, a P/E ratio of 11.03 and a beta of 0.68. Hanmi Financial Co. has a 1 year low of $14.95 and a 1 year high of $27.59. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The bank reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. The business had revenue of $62.82 million for the quarter, compared to analyst estimates of $63.45 million. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. As a group, research analysts anticipate that Hanmi Financial Co. will post 2.6 EPS for the current year.

Hanmi Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.75%. Hanmi Financial's dividend payout ratio (DPR) is currently 52.68%.

Wall Street Analyst Weigh In

Separately, DA Davidson restated a "neutral" rating and set a $27.50 price target on shares of Hanmi Financial in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently 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.