Principal Financial Group Inc. Sells 7,961 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Principal Financial Group Inc. reduced its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,914 shares of the bank’s stock after selling 7,961 shares during the period. Principal Financial Group Inc.’s holdings in Hanmi Financial were worth $2,490,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Simplex Trading LLC grew its stake in Hanmi Financial by 1,406.7% in the 4th quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock worth $39,000 after acquiring an additional 1,899 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Hanmi Financial by 90.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after purchasing an additional 2,441 shares during the period. EntryPoint Capital LLC lifted its position in shares of 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 purchasing an additional 6,242 shares during the period. Entropy Technologies LP purchased a new stake in shares of Hanmi Financial in the 1st quarter worth approximately $171,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Hanmi Financial in the 4th quarter worth approximately $217,000. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Trading Down 1.0 %

NASDAQ:HAFC opened at $18.40 on Thursday. Hanmi Financial Co. has a 52 week low of $13.87 and a 52 week high of $20.92. The firm has a 50 day moving average of $18.81 and a 200 day moving average of $16.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $559.12 million, a price-to-earnings ratio of 7.67 and a beta of 0.88.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The company had revenue of $106.72 million during the quarter, compared to analysts’ expectations of $59.07 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, sell-side analysts anticipate that Hanmi Financial Co. will post 1.98 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 5.43%. Hanmi Financial’s payout ratio is 41.67%.

Analysts Set New Price Targets

HAFC has been the subject of several research reports. DA Davidson upped their price target on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Wedbush upped their price target on shares of Hanmi Financial from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th.

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.