State Street Corp Sells 43,186 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

State Street Corp lessened its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,524,303 shares of the bank’s stock after selling 43,186 shares during the quarter. State Street Corp owned about 5.05% of Hanmi Financial worth $28,352,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HAFC. Bank of New York Mellon Corp grew its holdings in shares of Hanmi Financial by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 451,399 shares of the bank’s stock valued at $7,547,000 after purchasing an additional 17,112 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Hanmi Financial by 13.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 19,887 shares of the bank’s stock valued at $333,000 after purchasing an additional 2,328 shares during the last quarter. Stieven Capital Advisors L.P. lifted its position in Hanmi Financial by 19.2% during the second quarter. Stieven Capital Advisors L.P. now owns 473,553 shares of the bank’s stock valued at $7,918,000 after purchasing an additional 76,198 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Hanmi Financial by 71.8% in the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after buying an additional 201,789 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Hanmi Financial by 165.1% in the 2nd quarter. Quest Partners LLC now owns 37,104 shares of the bank’s stock worth $620,000 after buying an additional 23,110 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Trading Up 1.2 %

Shares of NASDAQ HAFC opened at $23.64 on Friday. Hanmi Financial Co. has a fifty-two week low of $14.45 and a fifty-two week high of $27.59. 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 company has a market cap of $713.83 million, a price-to-earnings ratio of 11.37 and a beta of 0.87. The business’s 50 day moving average price is $24.33 and its 200-day moving average price is $20.29.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $108.86 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.62 earnings per share. On average, sell-side analysts expect that Hanmi Financial Co. will post 2 earnings per share for the current year.

Hanmi Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 4.23%. Hanmi Financial’s dividend payout ratio (DPR) is 48.08%.

Analysts Set New Price Targets

A number of research analysts recently commented on HAFC shares. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. DA Davidson raised their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Finally, Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Hanmi Financial presently has an average rating of “Hold” and a consensus price target of $24.38.

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.