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. cut its stake in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,212,187 shares of the bank's stock after selling 42,646 shares during the period. Vanguard Group Inc. owned about 7.32% of Hanmi Financial worth $50,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HAFC. Wells Fargo & Company MN grew its position in Hanmi Financial by 22.0% in the fourth quarter. Wells Fargo & Company MN now owns 22,386 shares of the bank's stock worth $529,000 after acquiring an additional 4,038 shares in the last quarter. Mariner LLC purchased a new position in Hanmi Financial in the fourth quarter worth $324,000. Marshall Wace LLP purchased a new position in Hanmi Financial in the fourth quarter worth $441,000. First Trust Advisors LP grew its position in Hanmi Financial by 24.4% in the fourth quarter. First Trust Advisors LP now owns 22,773 shares of the bank's stock worth $538,000 after acquiring an additional 4,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Hanmi Financial by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,776,133 shares of the bank's stock valued at $41,952,000 after buying an additional 31,634 shares during the period. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Hanmi Financial Trading Down 0.5%

Shares of NASDAQ:HAFC traded down $0.12 during midday trading on Friday, hitting $25.16. 363,186 shares of the stock traded hands, compared to its average volume of 160,536. The stock has a market capitalization of $758.07 million, a PE ratio of 11.70 and a beta of 0.78. The business's 50 day moving average is $24.49 and its two-hundred day moving average is $23.36. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. Hanmi Financial Corporation has a one year low of $17.90 and a one year high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued 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). The firm 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 period last year, the company posted $0.48 earnings per share. As a group, research analysts forecast that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

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