Hanmi Financial Co. (NASDAQ:HAFC) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,500 shares of the bank’s stock after selling 600 shares during the period. Swiss National Bank owned approximately 0.20% of Hanmi Financial worth $1,405,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. FMR LLC increased its holdings in shares of Hanmi Financial by 26.1% in the third 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. JPMorgan Chase & Co. increased its stake in shares of Hanmi Financial by 71.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock worth $15,552,000 after acquiring an additional 349,339 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Hanmi Financial by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 489,126 shares of the bank’s stock worth $11,553,000 after acquiring an additional 41,020 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Hanmi Financial by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 170,942 shares of the bank’s stock worth $4,038,000 after acquiring an additional 6,643 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Hanmi Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 108,704 shares of the bank’s stock valued at $2,568,000 after acquiring an additional 5,258 shares during the last quarter. 88.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $29.00 target price (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. DA Davidson reaffirmed a “neutral” rating and set a $27.50 price target on shares of Hanmi Financial in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Hanmi Financial presently has an average rating of “Hold” and a consensus target price of $25.75.

Hanmi Financial Price Performance

Hanmi Financial stock opened at $22.58 on Friday. The company’s 50 day simple moving average is $23.32 and its 200-day simple moving average is $22.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. Hanmi Financial Co. has a 1 year low of $14.45 and a 1 year high of $27.59. The company has a market capitalization of $681.83 million, a price-to-earnings ratio of 11.01 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. As a group, equities research analysts expect that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.78%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s dividend payout ratio is currently 52.68%.

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.