Hanmi Financial Co. (NASDAQ:HAFC) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 13.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,926 shares of the bank’s stock after selling 3,820 shares during the period. SG Americas Securities LLC owned 0.08% of Hanmi Financial worth $589,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HAFC. FMR LLC boosted its stake in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Hanmi Financial by 71.8% in the third quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock valued at $15,552,000 after buying an additional 349,339 shares during the period. Stieven Capital Advisors L.P. boosted its stake in Hanmi Financial by 20.6% during the third quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock valued at $10,622,000 after buying an additional 97,500 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in 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 buying an additional 157,792 shares in the last quarter. Finally, Royce & Associates LP raised its position in Hanmi Financial by 0.6% in the third quarter. Royce & Associates LP now owns 192,802 shares of the bank’s stock worth $3,586,000 after acquiring an additional 1,089 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Analyst Ratings Changes

HAFC has been the subject of several research reports. DA Davidson restated a “neutral” rating and set a $27.50 price objective on shares of Hanmi Financial in a research report on Thursday. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued 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. Finally, Wedbush reaffirmed a “neutral” rating and set a $21.00 target price 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 issued a buy rating to the company’s stock. According to MarketBeat, Hanmi Financial has an average rating of “Hold” and an average target price of $25.75.

Hanmi Financial Price Performance

NASDAQ HAFC opened at $24.02 on Friday. The company has a 50 day simple moving average of $24.13 and a 200-day simple moving average of $21.74. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $27.59. The firm has a market capitalization of $725.40 million, a price-to-earnings ratio of 11.72 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.69%. Equities research analysts predict that Hanmi Financial Co. will post 2.28 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a $0.27 dividend. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, February 10th. Hanmi Financial’s dividend payout ratio is presently 48.78%.

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.