Thrivent Financial for Lutherans Decreases Position in Hanmi Financial Co. (NASDAQ:HAFC)

Thrivent Financial for Lutherans lowered its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 25.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 193,297 shares of the bank’s stock after selling 65,073 shares during the quarter. Thrivent Financial for Lutherans owned about 0.64% of Hanmi Financial worth $3,595,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Empowered Funds LLC increased its stake in Hanmi Financial by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 103,446 shares of the bank’s stock worth $1,924,000 after buying an additional 5,226 shares during the period. Royce & Associates LP grew its stake in shares of Hanmi Financial by 0.6% during the third quarter. Royce & Associates LP now owns 192,802 shares of the bank’s stock valued at $3,586,000 after acquiring an additional 1,089 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Hanmi Financial by 85.0% during the third quarter. Victory Capital Management Inc. now owns 24,435 shares of the bank’s stock worth $454,000 after acquiring an additional 11,230 shares during the last quarter. Versor Investments LP acquired a new position in shares of Hanmi Financial in the third quarter worth about $411,000. Finally, Capital Performance Advisors LLP purchased a new position in Hanmi Financial in the third quarter valued at about $49,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Trading Up 1.1 %

NASDAQ HAFC opened at $26.84 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59. The company has a 50-day simple moving average of $21.59 and a 200-day simple moving average of $18.94. The firm has a market capitalization of $810.46 million, a PE ratio of 13.05 and a beta of 0.84.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The business had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same quarter in the previous year, the firm posted $0.62 EPS. On average, equities analysts forecast that Hanmi Financial Co. will post 2 earnings per share for the current 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 paid a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.73%. Hanmi Financial’s payout ratio is currently 48.08%.

Analyst Ratings Changes

HAFC has been the subject of a number of recent analyst reports. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Wedbush reissued a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report 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 note on Wednesday, October 23rd. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. Finally, 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 note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Hanmi Financial presently has a consensus rating of “Moderate Buy” and an average price target of $22.63.

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.