Allspring Global Investments Holdings LLC Lowers Position in Hanmi Financial Co. (NASDAQ:HAFC)

Allspring Global Investments Holdings LLC decreased its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 19.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,928 shares of the bank’s stock after selling 3,959 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Hanmi Financial worth $296,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HAFC. Point72 Asia Singapore Pte. Ltd. lifted its stake in 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 acquiring an additional 1,207 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of 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 buying an additional 2,441 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of Hanmi Financial by 278.4% in the first quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock valued at $135,000 after acquiring an additional 6,242 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Hanmi Financial during the second quarter valued at approximately $168,000. Finally, Entropy Technologies LP bought a new stake in Hanmi Financial during the first quarter worth $171,000. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Trading Up 0.2 %

Shares of Hanmi Financial stock opened at $22.92 on Friday. The stock has a market capitalization of $693.79 million, a P/E ratio of 11.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. The stock’s 50-day simple moving average is $19.80 and its 200 day simple moving average is $17.91. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $23.67.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $108.86 million during the quarter, compared to analysts’ expectations of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same period in the previous year, the business earned $0.62 earnings per share. As a group, research analysts anticipate that Hanmi Financial Co. will post 2.01 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, November 4th. Hanmi Financial’s dividend payout ratio is presently 48.08%.

Analyst Ratings Changes

A number of brokerages have issued reports on HAFC. Keefe, Bruyette & Woods upgraded Hanmi Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. DA Davidson increased their target price on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Finally, Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $25.50 in a research note on Thursday, October 24th.

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.