Millennium Management LLC Sells 73,993 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Millennium Management LLC trimmed its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 17.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 353,318 shares of the bank’s stock after selling 73,993 shares during the quarter. Millennium Management LLC owned about 1.16% of Hanmi Financial worth $5,907,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HAFC. AQR Capital Management LLC raised its stake in Hanmi Financial by 32.2% in the second quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock valued at $17,937,000 after purchasing an additional 261,545 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after acquiring an additional 1,207 shares during the last quarter. Marshall Wace LLP acquired a new position in Hanmi Financial during the second quarter worth about $168,000. Bank of Montreal Can bought a new position in shares of Hanmi Financial in the second quarter worth about $2,979,000. Finally, Public Sector Pension Investment Board boosted its stake in shares of Hanmi Financial by 5.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 66,430 shares of the bank’s stock valued at $1,111,000 after purchasing an additional 3,357 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HAFC shares. DA Davidson increased their price objective on shares of Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Wedbush reduced their price target on Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th.

Hanmi Financial Stock Up 1.3 %

Shares of HAFC opened at $19.30 on Friday. The company has a market capitalization of $586.47 million, a PE ratio of 8.04 and a beta of 0.87. The stock’s 50-day moving average price is $18.87 and its two-hundred day moving average price is $17.19. 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 released its earnings results on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $106.72 million for the quarter, compared to analyst estimates of $59.07 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, analysts anticipate that Hanmi Financial Co. will post 1.98 EPS for the current year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.18%. The ex-dividend date was Monday, August 5th. Hanmi Financial’s dividend payout ratio is presently 41.67%.

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.