Hsbc Holdings PLC Sells 12,023 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Hsbc Holdings PLC reduced its stake in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) by 50.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,811 shares of the bank's stock after selling 12,023 shares during the quarter. Hsbc Holdings PLC's holdings in Hanmi Financial were worth $278,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of Hanmi Financial by 227.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank's stock valued at $25,000 after acquiring an additional 747 shares during the period. R Squared Ltd purchased a new stake in Hanmi Financial in the fourth quarter worth $43,000. Quantbot Technologies LP raised its stake in shares of 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 buying an additional 2,402 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Hanmi Financial during the 4th quarter valued at $132,000. Finally, New York State Common Retirement Fund grew its stake in shares of Hanmi Financial by 17.0% during the 4th quarter. New York State Common Retirement Fund now owns 8,257 shares of the bank's stock worth $195,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 88.66% of the company's stock.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $23.35 on Friday. The business's fifty day moving average is $22.15 and its 200 day moving average is $23.48. The firm has a market cap of $705.59 million, a price-to-earnings ratio of 11.39 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. Hanmi Financial Co. has a 52-week low of $14.95 and a 52-week high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. The firm had revenue of $62.82 million for the quarter, compared to analysts' expectations of $63.45 million. Research analysts predict that Hanmi Financial Co. will post 2.6 EPS for the current year.

Hanmi Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Monday, May 5th. Hanmi Financial's payout ratio is 50.70%.

Wall Street Analyst Weigh In

Separately, DA Davidson restated a "neutral" rating and issued a $27.50 price objective on shares of Hanmi Financial in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $25.75.

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.

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