Point72 Asset Management L.P. Purchases 2,687 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Point72 Asset Management L.P. raised its position in Hanmi Financial Co. (NASDAQ:HAFC) by 27.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,487 shares of the bank’s stock after purchasing an additional 2,687 shares during the period. Point72 Asset Management L.P.’s holdings in Hanmi Financial were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HAFC. The Manufacturers Life Insurance Company grew its holdings in shares of Hanmi Financial by 8.5% during the second 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 in the last quarter. EMC Capital Management increased its holdings in shares of 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 buying an additional 958 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after buying an additional 1,207 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Hanmi Financial by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock worth $280,000 after acquiring an additional 1,730 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Hanmi Financial by 3.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 54,423 shares of the bank’s stock worth $866,000 after acquiring an additional 2,004 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upgraded Hanmi Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $20.00 to $22.00 in a report on Wednesday. DA Davidson upped their target price on Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Wedbush decreased their price target on shares of Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Hanmi Financial Stock Up 1.6 %

Shares of NASDAQ:HAFC opened at $18.80 on Friday. The stock has a market capitalization of $571.28 million, a P/E ratio of 7.83 and a beta of 0.87. The stock’s 50-day moving average price is $18.95 and its 200-day moving average price is $17.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Hanmi Financial Co. has a 12-month low of $13.87 and a 12-month high of $20.92.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. The business had revenue of $106.72 million for the quarter, compared to analyst estimates of $59.07 million. During the same period last year, the company earned $0.67 EPS. On average, equities analysts anticipate that Hanmi Financial Co. will post 1.98 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The company 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 of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 5.32%. Hanmi Financial’s dividend payout ratio is currently 41.67%.

Hanmi Financial Company 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.