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Bank of New York Mellon Corp Reduces Stake in Hanmi Financial Corporation (NASDAQ:HAFC)

Hanmi Financial logo with Finance background

Bank of New York Mellon Corp lowered its position in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 467,135 shares of the bank's stock after selling 21,991 shares during the period. Bank of New York Mellon Corp owned approximately 1.55% of Hanmi Financial worth $10,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Hanmi Financial by 91.4% in the first quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after acquiring an additional 681 shares during the period. Curat Global LLC acquired a new position in Hanmi Financial in the first quarter valued at approximately $42,000. Quantbot Technologies LP lifted its holdings in Hanmi Financial by 5,858.5% in the fourth quarter. Quantbot Technologies LP now owns 2,443 shares of the bank's stock valued at $58,000 after acquiring an additional 2,402 shares during the period. Aquatic Capital Management LLC acquired a new position in Hanmi Financial in the fourth quarter valued at approximately $79,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Hanmi Financial in the fourth quarter valued at approximately $132,000. Hedge funds and other institutional investors own 88.66% of the company's stock.

Hanmi Financial Price Performance

Shares of HAFC stock traded down $0.08 during trading hours on Friday, hitting $23.01. 20,351 shares of the company's stock were exchanged, compared to its average volume of 183,657. The firm has a 50 day moving average of $24.17 and a two-hundred day moving average of $23.30. Hanmi Financial Corporation has a fifty-two week low of $17.37 and a fifty-two week high of $27.59. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a market cap of $695.16 million, a P/E ratio of 10.72 and a beta of 0.73.

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

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, August 4th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.69%. Hanmi Financial's dividend payout ratio is currently 50.23%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HAFC. Keefe, Bruyette & Woods boosted their price target on Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Wednesday. Piper Sandler reduced their target price on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, DA Davidson upped their target price on Hanmi Financial from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.00.

Get Our Latest Analysis on HAFC

Hanmi Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hanmi Financial (NASDAQ:HAFC)

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