Salzhauer Michael Decreases Stock Position in Hanmi Financial Co. (NASDAQ:HAFC)

Salzhauer Michael cut its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 34.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,143 shares of the bank’s stock after selling 35,466 shares during the quarter. Hanmi Financial accounts for approximately 0.5% of Salzhauer Michael’s holdings, making the stock its 25th largest position. Salzhauer Michael’s holdings in Hanmi Financial were worth $1,610,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of Hanmi Financial during the third quarter valued at $28,000. R Squared Ltd purchased a new position in Hanmi Financial in the 4th quarter worth about $43,000. Versant Capital Management Inc lifted its stake 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 acquiring an additional 1,035 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Hanmi Financial during the 3rd quarter valued at about $49,000. Finally, Marshall Wace LLP bought a new stake in shares of Hanmi Financial in the second quarter worth approximately $168,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Hanmi Financial Trading Down 0.8 %

NASDAQ:HAFC opened at $24.58 on Monday. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59. The business has a fifty day moving average price of $23.91 and a 200-day moving average price of $21.92. The firm has a market capitalization of $742.22 million, a price-to-earnings ratio of 11.99 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. Sell-side analysts forecast that Hanmi Financial Co. will post 2.45 EPS for the current year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.27 per share. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.39%. Hanmi Financial’s dividend payout ratio (DPR) is presently 52.68%.

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.