Connor Clark & Lunn Investment Management Ltd. Trims Stake in Hanmi Financial Co. (NASDAQ:HAFC)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,426 shares of the bank’s stock after selling 14,287 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.27% of Hanmi Financial worth $1,515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HAFC. Capital Performance Advisors LLP purchased a new stake in Hanmi Financial during the third quarter worth $49,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of 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 acquiring an additional 1,207 shares during the period. Marshall Wace LLP purchased a new position in shares of Hanmi Financial in the 2nd quarter valued at about $168,000. EMC Capital Management boosted its position in Hanmi Financial by 8.9% during the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $187,000 after purchasing an additional 958 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Hanmi Financial by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock valued at $193,000 after purchasing an additional 911 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HAFC. Wedbush reaffirmed a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Finally, DA Davidson lifted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Hanmi Financial Stock Down 0.5 %

HAFC stock opened at $26.71 on Wednesday. The company has a market cap of $806.54 million, a price-to-earnings ratio of 12.84 and a beta of 0.84. The firm has a 50-day moving average of $21.90 and a two-hundred day moving average of $19.09. Hanmi Financial Co. has a 12 month low of $14.45 and a 12 month high of $27.59. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS 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 business had revenue of $108.86 million for the quarter, compared to analyst estimates of $59.23 million. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, analysts forecast that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Monday, November 4th. Hanmi Financial’s dividend payout ratio (DPR) is presently 48.08%.

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.