Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in Hanmi Financial Corporation $HAFC

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Hanmi Financial by 37.3%, holding 51,585 shares valued at approximately $1.17 million as of its latest SEC filing.
• Hanmi Financial reported quarterly earnings of $0.50 EPS, missing estimates and generating a revenue of $65.21 million, which was short of the consensus estimate of $65.70 million.
• The company announced a quarterly dividend of $0.27 per share, with a dividend yield of 4.6%, scheduled to be paid on August 20th.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 37.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,585 shares of the bank's stock after selling 30,718 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Hanmi Financial worth $1,169,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Hanmi Financial by 91.4% during 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 in the last quarter. SG Americas Securities LLC grew its position in Hanmi Financial by 1.9% during the 1st quarter. SG Americas Securities LLC now owns 25,406 shares of the bank's stock worth $576,000 after purchasing an additional 480 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Hanmi Financial by 56.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,112 shares of the bank's stock valued at $566,000 after purchasing an additional 9,091 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Hanmi Financial during the 4th quarter valued at approximately $3,108,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Hanmi Financial by 17.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,154 shares of the bank's stock worth $523,000 after buying an additional 3,367 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

Wall Street Analyst Weigh In

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

Hanmi Financial Stock Performance

NASDAQ:HAFC traded down $0.18 during mid-day trading on Thursday, hitting $23.63. The company's stock had a trading volume of 95,529 shares, compared to its average volume of 173,245. The business's fifty day moving average is $24.20 and its two-hundred day moving average is $23.35. The stock has a market cap of $711.97 million, a price-to-earnings ratio of 10.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97. Hanmi Financial Corporation has a 1 year low of $17.90 and a 1 year high of $27.59.

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

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, August 4th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.6%. Hanmi Financial's dividend payout ratio (DPR) is 50.23%.

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.