Vanguard Group Inc. Sells 42,646 Shares of Hanmi Financial Corporation $HAFC

Key Points

• Vanguard Group Inc. reduced its stake in Hanmi Financial Corporation by 1.9% during Q1, now holding approximately 2,212,187 shares valued at $50.13 million.
• Several institutional investors, including LSV Asset Management and Allianz Asset Management GmbH, have also adjusted their positions in Hanmi Financial, with 88.66% of the company's stock owned by institutions.
• Hanmi Financial reported earnings of $0.50 per share last quarter, missing estimates, and also announced a quarterly dividend of $0.27 per share, marking a yield of 4.3%.

Vanguard Group Inc. trimmed its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,212,187 shares of the bank's stock after selling 42,646 shares during the quarter. Vanguard Group Inc. owned approximately 7.32% of Hanmi Financial worth $50,128,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Hanmi Financial by 91.4% during the 1st 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 last quarter. Curat Global LLC bought a new position in Hanmi Financial during the 1st quarter valued at $42,000. US Bancorp DE bought a new position in Hanmi Financial during the 1st quarter valued at $42,000. Aquatic Capital Management LLC bought a new position in shares of Hanmi Financial in the 4th quarter worth about $79,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Hanmi Financial by 6.6% in the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock worth $201,000 after buying an additional 527 shares during the last quarter. 88.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Hanmi Financial Stock Performance

NASDAQ:HAFC traded down $0.12 during midday trading on Friday, reaching $25.16. The stock had a trading volume of 363,182 shares, compared to its average volume of 182,810. The stock has a market capitalization of $758.07 million, a P/E ratio of 11.70 and a beta of 0.76. Hanmi Financial Corporation has a 1-year low of $17.90 and a 1-year high of $27.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97. The firm's fifty day simple moving average is $24.44 and its 200-day simple moving average is $23.37.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its quarterly 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). 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 for the quarter, compared to the consensus estimate of $65.70 million. During the same quarter last year, the company earned $0.48 earnings per share. On average, equities research analysts forecast that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

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