JPMorgan Chase & Co. Buys 349,339 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

JPMorgan Chase & Co. increased its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 71.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 836,145 shares of the bank’s stock after purchasing an additional 349,339 shares during the quarter. JPMorgan Chase & Co. owned 2.77% of Hanmi Financial worth $15,552,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Hanmi Financial by 32.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock valued at $17,937,000 after purchasing an additional 261,545 shares during the last quarter. FMR LLC increased its position in shares of Hanmi Financial by 26.1% during 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 last quarter. American Century Companies Inc. increased its position in shares of Hanmi Financial by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock valued at $9,667,000 after purchasing an additional 82,087 shares during the last quarter. Stieven Capital Advisors L.P. increased its position in shares of Hanmi Financial by 20.6% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock valued at $10,622,000 after purchasing an additional 97,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Hanmi Financial by 66.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock valued at $7,352,000 after purchasing an additional 157,792 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HAFC shares. 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 reaffirmed a “market perform” rating and issued a $29.00 price objective (up previously 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 upped their price objective for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. DA Davidson upped their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Hanmi Financial currently has a consensus rating of “Hold” and a consensus price target of $24.38.

Hanmi Financial Price Performance

Shares of HAFC stock opened at $21.39 on Friday. Hanmi Financial Co. has a twelve month low of $14.45 and a twelve month high of $27.59. The stock has a market capitalization of $645.89 million, a price-to-earnings ratio of 10.28 and a beta of 0.89. The stock has a fifty day simple moving average of $24.76 and a two-hundred day simple moving average of $21.05. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.

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. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The business had revenue of $108.86 million during the quarter, compared to analysts’ expectations of $59.23 million. During the same period in the prior year, the business earned $0.62 EPS. On average, analysts predict that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, November 4th. Hanmi Financial’s dividend payout ratio is 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.