Hanmi Financial Co. (NASDAQ:HAFC) Position Reduced by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its position in Hanmi Financial Co. (NASDAQ:HAFC) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 175,677 shares of the bank’s stock after selling 3,338 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Hanmi Financial were worth $3,268,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in HAFC. Vanguard Group Inc. boosted its stake in Hanmi Financial by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock worth $35,903,000 after purchasing an additional 58,097 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Hanmi Financial by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 66,605 shares of the bank’s stock worth $1,061,000 after buying an additional 3,328 shares during the period. CWM LLC grew its holdings in shares of Hanmi Financial by 192.0% during the second quarter. CWM LLC now owns 16,991 shares of the bank’s stock valued at $284,000 after buying an additional 11,173 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Hanmi Financial during the second quarter valued at $322,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Hanmi Financial during the second quarter valued at $245,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Price Performance

Shares of HAFC opened at $25.66 on Friday. 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 firm has a market cap of $774.93 million, a PE ratio of 12.34 and a beta of 0.87. The firm’s 50 day moving average price is $23.05 and its 200 day moving average price is $19.59. Hanmi Financial Co. has a twelve month low of $14.45 and a twelve month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The business had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same quarter last year, the firm earned $0.62 EPS. As a group, research analysts expect that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.90%. Hanmi Financial’s dividend payout ratio is currently 48.08%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. DA Davidson boosted their price objective 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. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Wedbush restated a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Hanmi Financial has an average rating of “Hold” and a consensus price target of $24.38.

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.