Hsbc Holdings PLC Sells 12,023 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Hsbc Holdings PLC cut its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 50.4% in the 4th quarter, HoldingsChannel reports. The firm owned 11,811 shares of the bank’s stock after selling 12,023 shares during the period. Hsbc Holdings PLC’s holdings in Hanmi Financial were worth $278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Hanmi Financial by 74.0% during the 3rd quarter. Barclays PLC now owns 67,158 shares of the bank’s stock worth $1,248,000 after acquiring an additional 28,561 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 349,339 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Hanmi Financial by 24.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,582 shares of the bank’s stock valued at $415,000 after purchasing an additional 3,400 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hanmi Financial during the 4th quarter valued at about $43,000. Finally, EMC Capital Management lifted its position in Hanmi Financial by 162.4% in the 4th quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $278,000 after buying an additional 7,284 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “neutral” rating and set a $27.50 price target on shares of Hanmi Financial in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.75.

Hanmi Financial Price Performance

HAFC opened at $23.35 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial Co. has a 1 year low of $14.95 and a 1 year high of $27.59. The stock’s 50 day simple moving average is $22.15 and its 200 day simple moving average is $23.48. The firm has a market cap of $705.59 million, a price-to-earnings ratio of 11.39 and a beta of 0.67.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, April 22nd. The bank reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $62.82 million for the quarter, compared to the consensus estimate of $63.45 million. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. As a group, analysts predict that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.63%. Hanmi Financial’s dividend payout ratio is currently 50.70%.

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.