Point72 DIFC Ltd Takes Position in Hanmi Financial Co. (NASDAQ:HAFC)

Point72 DIFC Ltd purchased a new position in Hanmi Financial Co. (NASDAQ:HAFC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,532 shares of the bank’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HAFC. CWM LLC raised its holdings in shares of Hanmi Financial by 192.0% in the 2nd quarter. CWM LLC now owns 16,991 shares of the bank’s stock worth $284,000 after buying an additional 11,173 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Hanmi Financial during the second quarter valued at $322,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Hanmi Financial in the 2nd quarter valued at $245,000. Bank of New York Mellon Corp grew its holdings in shares of Hanmi Financial by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 451,399 shares of the bank’s stock worth $7,547,000 after purchasing an additional 17,112 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Hanmi Financial by 13.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 19,887 shares of the bank’s stock worth $333,000 after purchasing an additional 2,328 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HAFC. Janney Montgomery Scott raised shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. DA Davidson increased their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Finally, Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.38.

Hanmi Financial Stock Up 1.2 %

Shares of HAFC opened at $25.82 on Wednesday. The firm has a market capitalization of $779.76 million, a price-to-earnings ratio of 12.41 and a beta of 0.87. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59. 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 business’s fifty day moving average price is $23.34 and its two-hundred day moving average price is $19.78.

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

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.87%. Hanmi Financial’s dividend payout ratio is currently 48.08%.

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.