Stieven Capital Advisors L.P. Sells 14,300 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Stieven Capital Advisors L.P. lessened its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 556,753 shares of the bank’s stock after selling 14,300 shares during the quarter. Hanmi Financial makes up about 2.3% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 14th largest position. Stieven Capital Advisors L.P.’s holdings in Hanmi Financial were worth $13,151,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in Hanmi Financial in the 3rd quarter worth $28,000. R Squared Ltd bought a new stake in shares of Hanmi Financial in the fourth quarter worth about $43,000. Versant Capital Management Inc grew its holdings in Hanmi Financial by 110.7% during the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after buying an additional 1,035 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Hanmi Financial in the 3rd quarter worth approximately $49,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Hanmi Financial by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after acquiring an additional 911 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HAFC. DA Davidson reissued a “neutral” rating and issued a $27.50 target price on shares of Hanmi Financial in a report on Thursday, January 30th. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.75.

Hanmi Financial Price Performance

HAFC stock opened at $24.29 on Friday. The stock has a market cap of $733.56 million, a PE ratio of 11.85 and a beta of 0.88. Hanmi Financial Co. has a 12 month low of $14.45 and a 12 month high of $27.59. The company has a 50-day moving average price of $23.77 and a 200 day moving average price of $22.07. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. Equities research analysts anticipate that Hanmi Financial Co. will post 2.45 earnings per share for the current year.

Hanmi Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.45%. The ex-dividend date is Monday, February 10th. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s dividend payout ratio is 48.78%.

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.