AQR Capital Management LLC Trims Stock Position in Hanmi Financial Corporation $HAFC

Key Points

• AQR Capital Management LLC has decreased its ownership in Hanmi Financial Corporation by 15.9%, now holding 2.06% of the company valued at approximately $14 million after selling over 117,000 shares.
• Hanmi Financial recently reported Q2 earnings of $0.50 per share, missing estimates by $0.12 and showing a revenue of $65.21 million, which was below the consensus estimate.
• The company announced a quarterly dividend of $0.27 per share, with a resulting annualized dividend yield of 4.3% and a payout ratio of 50.23%.

AQR Capital Management LLC lowered its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 15.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 621,057 shares of the bank's stock after selling 117,415 shares during the period. AQR Capital Management LLC owned 2.06% of Hanmi Financial worth $14,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HAFC. Northern Trust Corp boosted its stake in Hanmi Financial by 7.0% during the fourth quarter. Northern Trust Corp now owns 328,274 shares of the bank's stock worth $7,754,000 after buying an additional 21,447 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Hanmi Financial in the fourth quarter valued at $474,000. Cubist Systematic Strategies LLC raised its position in Hanmi Financial by 29.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 49,268 shares of the bank's stock valued at $1,164,000 after purchasing an additional 11,244 shares during the period. Deutsche Bank AG raised its position in Hanmi Financial by 48.0% in the fourth quarter. Deutsche Bank AG now owns 29,642 shares of the bank's stock valued at $700,000 after purchasing an additional 9,613 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in Hanmi Financial by 0.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 176,354 shares of the bank's stock valued at $4,165,000 after purchasing an additional 677 shares during the period. Institutional investors and hedge funds own 88.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. DA Davidson lifted their target price on Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler cut their price objective on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $26.00.

Hanmi Financial Stock Up 0.0%

Shares of NASDAQ:HAFC traded up $0.01 on Monday, hitting $24.85. 9,471 shares of the company's stock were exchanged, compared to its average volume of 179,747. The company has a market capitalization of $748.54 million, a PE ratio of 11.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98. Hanmi Financial Corporation has a 1-year low of $17.92 and a 1-year high of $27.59. The firm's 50-day moving average is $24.49 and its 200 day moving average is $23.42.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.12). The firm had revenue of $65.21 million during the quarter, compared to analyst estimates of $65.70 million. Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. During the same period last year, the company earned $0.48 earnings per share. Sell-side analysts predict that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, August 4th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.3%. Hanmi Financial's dividend payout ratio is 50.23%.

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.