Point72 Asia Singapore Pte. Ltd. Grows Stock Position in Hanmi Financial Co. (NASDAQ:HAFC)

Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 47.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,773 shares of the bank’s stock after acquiring an additional 1,207 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Hanmi Financial were worth $63,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after purchasing an additional 2,441 shares during the period. EntryPoint Capital LLC boosted its stake in Hanmi Financial by 278.4% in the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after purchasing an additional 6,242 shares during the period. Marshall Wace LLP bought a new position in Hanmi Financial in the 2nd quarter worth approximately $168,000. Entropy Technologies LP bought a new position in Hanmi Financial in the 1st quarter worth approximately $171,000. Finally, EMC Capital Management boosted its stake in Hanmi Financial by 8.9% in the 1st quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $187,000 after purchasing an additional 958 shares during the period. 88.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wedbush dropped their price target on Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded Hanmi Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $20.00 to $22.00 in a research report on Wednesday. Finally, DA Davidson increased their target price on Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th.

Hanmi Financial Stock Up 1.6 %

NASDAQ HAFC opened at $18.80 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $571.28 million, a P/E ratio of 7.83 and a beta of 0.87. Hanmi Financial Co. has a one year low of $13.87 and a one year high of $20.92. The stock has a 50 day moving average price of $18.95 and a 200-day moving average price of $17.10.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The firm had revenue of $106.72 million during the quarter, compared to the consensus estimate of $59.07 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same period in the prior year, the company earned $0.67 EPS. As a group, equities analysts predict that Hanmi Financial Co. will post 1.98 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 5.32%. Hanmi Financial’s payout ratio is presently 41.67%.

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.