Aigen Investment Management LP Cuts Stake in Hanmi Financial Co. (NASDAQ:HAFC)

Aigen Investment Management LP lessened its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 27.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,221 shares of the bank’s stock after selling 3,929 shares during the quarter. Aigen Investment Management LP’s holdings in Hanmi Financial were worth $190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of Hanmi Financial during the 3rd quarter valued at about $49,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after buying an additional 1,207 shares in the last quarter. EntryPoint Capital LLC increased its stake in Hanmi Financial by 278.4% in the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after acquiring an additional 6,242 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Hanmi Financial during the 2nd quarter worth approximately $168,000. Finally, Entropy Technologies LP bought a new position in shares of Hanmi Financial during the 1st quarter valued at approximately $171,000. Institutional investors own 88.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HAFC shares. Wedbush reaffirmed a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. DA Davidson upped their target price on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods upgraded Hanmi Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $22.00 in a research report on Wednesday, October 2nd. Finally, Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.63.

Hanmi Financial Stock Performance

Hanmi Financial stock opened at $25.65 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market capitalization of $774.53 million, a P/E ratio of 12.33 and a beta of 0.84. Hanmi Financial Co. has a 1-year low of $14.45 and a 1-year high of $26.30. The company’s 50-day moving average is $20.87 and its 200 day moving average is $18.55.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The firm had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. During the same period in the prior year, the business posted $0.62 earnings per share. Research analysts forecast that Hanmi Financial Co. will post 2.01 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, November 4th. Hanmi Financial’s dividend payout ratio is currently 48.08%.

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.