Ameriprise Financial Inc. Sells 52,835 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Ameriprise Financial Inc. lowered its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 17.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,055 shares of the bank's stock after selling 52,835 shares during the quarter. Ameriprise Financial Inc. owned about 0.81% of Hanmi Financial worth $5,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Amundi raised its stake in shares of Hanmi Financial by 213.3% in the 4th quarter. Amundi now owns 15,115 shares of the bank's stock valued at $338,000 after acquiring an additional 10,290 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Hanmi Financial by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 489,126 shares of the bank's stock valued at $11,553,000 after purchasing an additional 41,020 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Hanmi Financial in the fourth quarter worth about $364,000. Jump Financial LLC acquired a new position in shares of Hanmi Financial during the 4th quarter worth about $478,000. Finally, Principal Financial Group Inc. lifted its position in shares of Hanmi Financial by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 170,942 shares of the bank's stock worth $4,038,000 after purchasing an additional 6,643 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a "neutral" rating and issued a $27.50 price objective on shares of Hanmi Financial in a research 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $25.75.

Hanmi Financial Price Performance

Hanmi Financial stock traded up $0.44 during mid-day trading on Tuesday, hitting $23.25. 96,374 shares of the company were exchanged, compared to its average volume of 202,915. The company has a market capitalization of $702.43 million, a PE ratio of 11.34 and a beta of 0.67. The business has a fifty day moving average of $22.48 and a 200 day moving average of $23.50. Hanmi Financial Co. has a 1-year low of $14.95 and a 1-year high of $27.59. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $62.82 million during the quarter, compared to the consensus estimate of $63.45 million. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. As a group, sell-side analysts expect 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 was paid on Wednesday, May 21st. Stockholders of record on Monday, May 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.65%. Hanmi Financial's payout ratio is currently 50.70%.

Hanmi Financial 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.