AQR Capital Management LLC Sells 117,415 Shares of 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 trimmed its holdings in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 15.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 621,057 shares of the bank's stock after selling 117,415 shares during the period. AQR Capital Management LLC owned about 2.06% of Hanmi Financial worth $14,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. EP Wealth Advisors LLC bought a new position in shares of Hanmi Financial in the first quarter valued at $258,000. Cubist Systematic Strategies LLC raised its holdings in shares of Hanmi Financial by 11.9% in the first quarter. Cubist Systematic Strategies LLC now owns 55,116 shares of the bank's stock valued at $1,249,000 after purchasing an additional 5,848 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Hanmi Financial by 8.1% in the first quarter. Royal Bank of Canada now owns 16,441 shares of the bank's stock valued at $372,000 after purchasing an additional 1,234 shares during the last quarter. Quarry LP raised its holdings in shares of Hanmi Financial by 114.3% in the first quarter. Quarry LP now owns 1,830 shares of the bank's stock valued at $41,000 after purchasing an additional 976 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Hanmi Financial in the first quarter valued at about $323,000. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Stock Performance

NASDAQ HAFC traded up $0.04 during trading hours on Monday, reaching $24.88. 130,618 shares of the company were exchanged, compared to its average volume of 140,951. Hanmi Financial Corporation has a 1 year low of $17.92 and a 1 year high of $27.59. The business's 50 day simple moving average is $24.46 and its 200-day simple moving average is $23.43. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $749.63 million, a P/E ratio of 11.57 and a beta of 0.78.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings data 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). Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.The company had revenue of $65.21 million for the quarter, compared to analysts' expectations of $65.70 million. During the same quarter last year, the business posted $0.48 EPS. On average, equities research analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

HAFC has been the subject of several analyst reports. DA Davidson increased their target price on shares of Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their target price on shares of Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler lowered their target price on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Hanmi Financial presently has an average rating of "Hold" and a consensus target price of $26.00.

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.