Hanmi Financial Co. (NASDAQ:HAFC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,161 shares of the bank’s stock after selling 565 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Hanmi Financial worth $319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HAFC. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Hanmi Financial by 47.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after purchasing an additional 1,207 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Hanmi Financial by 278.4% during the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $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 2nd quarter worth approximately $168,000. Entropy Technologies LP purchased a new stake in shares of Hanmi Financial during the 1st quarter worth approximately $171,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Hanmi Financial by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after acquiring an additional 911 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $24.89 on Friday. 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 firm’s 50-day moving average price is $20.24 and its two-hundred day moving average price is $18.23. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $26.30. The stock has a market capitalization of $751.68 million, a P/E ratio of 11.97 and a beta of 0.84.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate 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 quarter last year, the business earned $0.62 earnings per share. As a group, sell-side analysts forecast that Hanmi Financial Co. will post 2.01 earnings per share for the current year.

Hanmi Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.02%. Hanmi Financial’s dividend payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HAFC shares. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. 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, October 2nd. DA Davidson upped their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wedbush reiterated a “neutral” rating and issued a $21.00 price target on shares of Hanmi Financial in a report on Wednesday, October 23rd.

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.