Hanmi Financial Co. (NASDAQ:HAFC) Holdings Lowered by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,241 shares of the bank’s stock after selling 684 shares during the quarter. Franklin Resources Inc. owned about 0.15% of Hanmi Financial worth $908,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HAFC. Texas Permanent School Fund Corp boosted its holdings in Hanmi Financial by 129.0% during the second quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank’s stock worth $1,002,000 after buying an additional 33,747 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Hanmi Financial during the second quarter valued at $534,000. FMR LLC boosted its position in shares of Hanmi Financial by 26.1% in the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after purchasing an additional 182,164 shares during the period. Acadian Asset Management LLC boosted its position 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 valued at $8,070,000 after purchasing an additional 201,789 shares during the period. Finally, SG Americas Securities LLC increased its stake in Hanmi Financial by 49.1% in the 3rd quarter. SG Americas Securities LLC now owns 28,746 shares of the bank’s stock worth $535,000 after purchasing an additional 9,465 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hanmi Financial Trading Down 2.1 %

Hanmi Financial stock opened at $23.38 on Friday. Hanmi Financial Co. has a 12 month low of $14.45 and a 12 month high of $27.59. 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 stock has a market cap of $705.98 million, a P/E ratio of 11.24 and a beta of 0.87. The company’s fifty day simple moving average is $24.63 and its 200-day simple moving average is $20.58.

Hanmi Financial (NASDAQ:HAFC) last issued 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 company had revenue of $108.86 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.62 EPS. As a group, sell-side analysts forecast that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Monday, November 4th. Hanmi Financial’s dividend payout ratio (DPR) is presently 48.08%.

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.