Connor Clark & Lunn Investment Management Ltd. Lowers Stock Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 14.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,426 shares of the bank’s stock after selling 14,287 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hanmi Financial were worth $1,515,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in HAFC. Vanguard Group Inc. raised its position in shares of Hanmi Financial by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock valued at $35,903,000 after buying an additional 58,097 shares during the last quarter. Boston Partners acquired a new position in shares of Hanmi Financial during the 1st quarter valued at $596,000. SG Americas Securities LLC purchased a new stake in Hanmi Financial during the 2nd quarter worth $322,000. Texas Permanent School Fund Corp increased its holdings in Hanmi Financial by 129.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank’s stock valued at $1,002,000 after purchasing an additional 33,747 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Hanmi Financial in the second quarter valued at about $534,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Analysts Set New Price Targets

HAFC has been the subject of several analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upgraded shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, DA Davidson lifted their price target on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Hanmi Financial has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Hanmi Financial Stock Down 0.5 %

HAFC stock opened at $26.71 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $21.90 and a 200-day simple moving average of $19.09. The company has a market capitalization of $806.54 million, a P/E ratio of 12.84 and a beta of 0.84. Hanmi Financial Co. has a twelve month low of $14.45 and a twelve month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The company 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 business earned $0.62 EPS. On average, equities research analysts predict that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Monday, November 4th. Hanmi Financial’s payout ratio is currently 48.08%.

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.