Barclays PLC Raises Position in Hanmi Financial Co. (NASDAQ:HAFC)

Barclays PLC boosted its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 74.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,158 shares of the bank’s stock after buying an additional 28,561 shares during the period. Barclays PLC’s holdings in Hanmi Financial were worth $1,248,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HAFC. Y Intercept Hong Kong Ltd increased its position in shares of Hanmi Financial by 29.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 41,953 shares of the bank’s stock worth $780,000 after purchasing an additional 9,542 shares in the last quarter. Jane Street Group LLC boosted its stake in Hanmi Financial by 24.7% during the 3rd quarter. Jane Street Group LLC now owns 60,051 shares of the bank’s stock worth $1,117,000 after purchasing an additional 11,911 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Hanmi Financial during the third quarter worth $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Hanmi Financial by 13.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,133 shares of the bank’s stock valued at $1,342,000 after buying an additional 8,630 shares during the last quarter. Finally, PEAK6 Investments LLC purchased a new position in shares of Hanmi Financial in the third quarter worth about $309,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms 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 boosted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price objective (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hanmi Financial has a consensus rating of “Hold” and an average target price of $24.38.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $23.38 on Monday. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59. The company has a fifty day simple moving average of $24.63 and a two-hundred day simple moving average of $20.61. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a market cap of $705.98 million, a price-to-earnings ratio of 11.24 and a beta of 0.87.

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. The business had revenue of $108.86 million during the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same period in the previous year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Monday, November 4th. Hanmi Financial’s dividend payout ratio is presently 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.