State Street Corp Lowers Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

State Street Corp reduced its position in Hanmi Financial Co. (NASDAQ:HAFC) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,524,303 shares of the bank’s stock after selling 43,186 shares during the period. State Street Corp owned 0.05% of Hanmi Financial worth $28,352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Hanmi Financial during the 3rd quarter valued at about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hanmi Financial by 13.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,133 shares of the bank’s stock valued at $1,342,000 after buying an additional 8,630 shares during the period. PEAK6 Investments LLC purchased a new stake in Hanmi Financial during the third quarter worth $309,000. FMR LLC lifted its holdings in Hanmi Financial by 26.1% during the third quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after buying an additional 182,164 shares during the period. Finally, Cerity Partners LLC boosted its position in Hanmi Financial by 60.1% during the 3rd quarter. Cerity Partners LLC now owns 34,910 shares of the bank’s stock valued at $649,000 after acquiring an additional 13,109 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Trading Up 1.2 %

Hanmi Financial stock opened at $23.64 on Friday. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59. The stock has a market cap of $713.83 million, a PE ratio of 11.37 and a beta of 0.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a 50-day moving average of $24.33 and a two-hundred day moving average of $20.29.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same period last year, the firm posted $0.62 EPS. On average, research analysts anticipate that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 4.23%. Hanmi Financial’s payout ratio is currently 48.08%.

Analyst Upgrades and Downgrades

HAFC has been the subject of several recent research reports. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. DA Davidson increased their price target 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. Wedbush reissued a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.38.

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.