Thrivent Financial for Lutherans Decreases Stock Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

Thrivent Financial for Lutherans reduced its position in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 25.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,297 shares of the bank's stock after selling 65,073 shares during the period. Thrivent Financial for Lutherans owned 0.64% of Hanmi Financial worth $3,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HAFC. Vanguard Group Inc. increased its position in Hanmi Financial by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank's stock valued at $35,903,000 after acquiring an additional 58,097 shares during the last quarter. Boston Partners purchased a new stake in Hanmi Financial in the 1st quarter worth about $596,000. SG Americas Securities LLC bought a new stake in Hanmi Financial in the second quarter worth about $322,000. Texas Permanent School Fund Corp boosted its position in shares of Hanmi Financial by 129.0% during the second quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank's stock valued at $1,002,000 after buying an additional 33,747 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Hanmi Financial during the second quarter valued at approximately $534,000. 88.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HAFC shares. DA Davidson upped their target price on Hanmi Financial from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Wedbush reaffirmed a "neutral" rating and set a $21.00 target price on shares of Hanmi Financial in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods upgraded Hanmi Financial from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd. Piper Sandler upgraded shares of Hanmi Financial from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. Finally, Janney Montgomery Scott upgraded Hanmi Financial from a "neutral" rating to a "buy" rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.63.

Hanmi Financial Trading Down 0.6 %

Shares of HAFC traded down $0.15 during trading on Tuesday, reaching $26.69. 82,178 shares of the company traded hands, compared to its average volume of 230,541. Hanmi Financial Co. has a twelve month low of $14.45 and a twelve month 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 50-day simple moving average of $21.75 and a 200-day simple moving average of $19.02. The stock has a market cap of $805.93 million, a PE ratio of 12.90 and a beta of 0.84.

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, hitting analysts' consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The company had revenue of $108.86 million for the quarter, compared to analyst estimates of $59.23 million. During the same period in the prior year, the business earned $0.62 EPS. On average, analysts anticipate that Hanmi Financial Co. will post 2 earnings per share for the current year.

Hanmi Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, November 4th. Hanmi Financial's payout ratio is presently 48.08%.

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.