Point72 Asset Management L.P. Sells 4,487 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Point72 Asset Management L.P. cut its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 35.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the bank’s stock after selling 4,487 shares during the quarter. Point72 Asset Management L.P.’s holdings in Hanmi Financial were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Hanmi Financial in the 2nd quarter worth approximately $322,000. Texas Permanent School Fund Corp increased its position in Hanmi Financial by 129.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank’s stock valued at $1,002,000 after purchasing an additional 33,747 shares during the period. Sanctuary Advisors LLC bought a new position in Hanmi Financial in the 2nd quarter worth $534,000. Acadian Asset Management LLC lifted its position in shares of Hanmi Financial by 71.8% in the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after purchasing an additional 201,789 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Hanmi Financial during the 2nd quarter valued at about $2,979,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on HAFC shares. Wedbush restated a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. DA Davidson upped their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Hanmi Financial presently has a consensus rating of “Hold” and a consensus price target of $24.38.

Hanmi Financial Price Performance

HAFC opened at $26.00 on Friday. The firm has a market cap of $785.20 million, a PE ratio of 12.50 and a beta of 0.87. The stock has a 50-day moving average price of $23.65 and a 200-day moving average price of $19.87. Hanmi Financial Co. has a 1 year low of $14.45 and a 1 year high of $27.59. 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, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. 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 previous year, the company earned $0.62 earnings per share. Sell-side analysts predict that Hanmi Financial Co. will post 2 earnings per share for the current fiscal 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 was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.85%. Hanmi Financial’s dividend payout ratio (DPR) is presently 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.