AlphaQuest LLC Has $192,000 Position in Hanmi Financial Co. (NASDAQ:HAFC)

AlphaQuest LLC decreased its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 82.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,121 shares of the bank’s stock after selling 38,159 shares during the period. AlphaQuest LLC’s holdings in Hanmi Financial were worth $192,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HAFC. Smartleaf Asset Management LLC raised its holdings in Hanmi Financial by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock worth $25,000 after buying an additional 747 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Hanmi Financial during the third quarter worth $28,000. R Squared Ltd acquired a new position in Hanmi Financial during the fourth quarter worth $43,000. Versant Capital Management Inc raised its holdings in Hanmi Financial by 110.7% during the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock worth $47,000 after buying an additional 1,035 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Hanmi Financial by 17.0% during the fourth quarter. New York State Common Retirement Fund now owns 8,257 shares of the bank’s stock worth $195,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

HAFC has been the subject of several analyst reports. DA Davidson reiterated a “neutral” rating and issued a $27.50 target price on shares of Hanmi Financial in a report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.75.

Hanmi Financial Stock Performance

Shares of HAFC stock opened at $21.85 on Monday. The company has a market cap of $659.78 million, a P/E ratio of 10.66 and a beta of 0.87. The firm has a 50-day moving average of $23.30 and a 200-day moving average of $22.69. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. Equities research analysts forecast that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were given a dividend of $0.27 per share. The ex-dividend date was Monday, February 10th. This represents a $1.08 annualized dividend and a yield of 4.94%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s dividend payout ratio is presently 52.68%.

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.