Yousif Capital Management LLC Lowers Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

Yousif Capital Management LLC lowered its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,598 shares of the bank’s stock after selling 687 shares during the quarter. Yousif Capital Management LLC’s holdings in Hanmi Financial were worth $274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EMC Capital Management increased its holdings in Hanmi Financial by 162.4% in the 4th quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock valued at $278,000 after acquiring an additional 7,284 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hanmi Financial during the fourth quarter valued at about $43,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Hanmi Financial by 24.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,582 shares of the bank’s stock worth $415,000 after purchasing an additional 3,400 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Hanmi Financial by 110.7% in the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock worth $47,000 after buying an additional 1,035 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Hanmi Financial by 71.8% during 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 last quarter. Institutional investors own 88.66% of the company’s stock.

Analysts Set New Price Targets

HAFC has been the subject of several research reports. Wedbush reiterated a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Piper Sandler upgraded 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. Finally, DA Davidson reiterated a “neutral” rating and issued a $27.50 target price on shares of Hanmi Financial in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.75.

Hanmi Financial Price Performance

HAFC opened at $24.29 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $23.75 and its 200-day simple moving average is $22.12. The company has a market capitalization of $733.56 million, a price-to-earnings ratio of 11.85 and a beta of 0.88. Hanmi Financial Co. has a 12-month low of $14.45 and a 12-month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. On average, equities research analysts anticipate that Hanmi Financial Co. will post 2.45 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.45%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. Hanmi Financial’s dividend payout ratio is presently 48.78%.

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.