Trexquant Investment LP Lowers Holdings in Hanmi Financial Corporation $HAFC

Key Points

• Trexquant Investment LP has reduced its holdings in Hanmi Financial Corporation (NASDAQ:HAFC) by 15.2%, now owning 110,549 shares valued at $2.5 million after selling 19,819 shares in the first quarter.
• Hanmi Financial reported a quarterly earnings per share (EPS) of $0.50, missing the consensus estimate of $0.62, while revenue for the quarter was $65.21 million, slightly below expectations.
• The company announced a quarterly dividend of $0.27, representing an annualized dividend of $1.08 and a yield of 4.3%, with a payout ratio of 50.23%.

Trexquant Investment LP lessened its stake in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,549 shares of the bank's stock after selling 19,819 shares during the period. Trexquant Investment LP owned approximately 0.37% of Hanmi Financial worth $2,505,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Hanmi Financial by 1.9% in the 1st quarter. SG Americas Securities LLC now owns 25,406 shares of the bank's stock worth $576,000 after acquiring an additional 480 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Hanmi Financial by 6.6% during the fourth quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock valued at $201,000 after buying an additional 527 shares in the last quarter. Cresset Asset Management LLC lifted its stake in Hanmi Financial by 0.9% in the fourth quarter. Cresset Asset Management LLC now owns 56,990 shares of the bank's stock valued at $1,346,000 after acquiring an additional 535 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hanmi Financial by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,112 shares of the bank's stock valued at $404,000 after purchasing an additional 547 shares during the period. Finally, SummerHaven Investment Management LLC lifted its stake in Hanmi Financial by 1.3% in the first quarter. SummerHaven Investment Management LLC now owns 47,211 shares of the bank's stock valued at $1,070,000 after buying an additional 599 shares during the period. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Trading Up 0.5%

Shares of NASDAQ HAFC traded up $0.14 during midday trading on Monday, reaching $25.08. 67,108 shares of the stock were exchanged, compared to its average volume of 181,952. Hanmi Financial Corporation has a 52-week low of $17.90 and a 52-week high of $27.59. The stock has a 50 day moving average price of $24.57 and a 200-day moving average price of $23.37. The company has a market capitalization of $755.51 million, a P/E ratio of 11.62 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34.

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

Hanmi Financial Announces Dividend

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

Analyst Upgrades and Downgrades

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

About Hanmi Financial

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.