Hanmi Financial Co. (NASDAQ:HAFC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,299 shares of the bank’s stock after buying an additional 15,385 shares during the period. Principal Financial Group Inc. owned 0.54% of Hanmi Financial worth $3,056,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HAFC. Sanctuary Advisors LLC grew its position in shares of Hanmi Financial by 15.0% during the third quarter. Sanctuary Advisors LLC now owns 38,845 shares of the bank’s stock worth $723,000 after acquiring an additional 5,077 shares during the last quarter. Barclays PLC boosted its stake in Hanmi Financial by 74.0% during the 3rd quarter. Barclays PLC now owns 67,158 shares of the bank’s stock valued at $1,248,000 after purchasing an additional 28,561 shares during the period. Y Intercept Hong Kong Ltd grew its position in Hanmi Financial by 29.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 41,953 shares of the bank’s stock worth $780,000 after purchasing an additional 9,542 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Hanmi Financial by 24.7% in the third quarter. Jane Street Group LLC now owns 60,051 shares of the bank’s stock valued at $1,117,000 after purchasing an additional 11,911 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Hanmi Financial during the third quarter valued at approximately $28,000. 88.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Hanmi Financial Stock Up 0.1 %

HAFC opened at $22.81 on Friday. The stock’s fifty day moving average is $24.83 and its 200-day moving average is $20.82. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59. The company has a market capitalization of $688.77 million, a PE ratio of 10.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same period in the prior year, the company earned $0.62 EPS. On average, equities analysts predict 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. Investors of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Monday, November 4th. Hanmi Financial’s payout ratio is 48.08%.

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.