Barclays PLC Has $1.25 Million Position in Hanmi Financial Co. (NASDAQ:HAFC)

Barclays PLC raised its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 74.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,158 shares of the bank’s stock after buying an additional 28,561 shares during the quarter. Barclays PLC owned 0.22% of Hanmi Financial worth $1,248,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HAFC. AQR Capital Management LLC boosted its holdings in Hanmi Financial by 32.2% during the second 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 in the last quarter. FMR LLC grew its position in 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 acquiring an additional 182,164 shares during the period. Bank of Montreal Can acquired a new position in Hanmi Financial during the second quarter worth $2,979,000. Assenagon Asset Management S.A. lifted its holdings in shares of Hanmi Financial by 66.5% during the third quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock valued at $7,352,000 after acquiring an additional 157,792 shares during the period. Finally, Stieven Capital Advisors L.P. boosted its stake in shares of Hanmi Financial by 20.6% in 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 in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HAFC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. 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. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. DA Davidson raised their target price on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reiterated a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.38.

Hanmi Financial Stock Performance

Shares of Hanmi Financial stock opened at $21.65 on Tuesday. The firm has a fifty day moving average of $24.74 and a two-hundred day moving average of $21.17. 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 stock has a market capitalization of $653.74 million, a price-to-earnings ratio of 10.41 and a beta of 0.89. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $108.86 million during the quarter, compared to analysts’ expectations 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 business posted $0.62 EPS. As a group, equities research analysts predict that Hanmi Financial Co. will post 2 EPS for the current year.

Hanmi Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors 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 dividend yield of 4.62%. Hanmi Financial’s dividend payout ratio is presently 48.08%.

About Hanmi Financial

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.