Principal Financial Group Inc. Has $3.06 Million Stock Position in Hanmi Financial Co. (NASDAQ:HAFC)

Principal Financial Group Inc. boosted its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 10.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 164,299 shares of the bank’s stock after buying an additional 15,385 shares during the period. Principal Financial Group Inc.’s holdings in Hanmi Financial were worth $3,056,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HAFC. Sanctuary Advisors LLC lifted its position in shares of Hanmi Financial by 15.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 38,845 shares of the bank’s stock valued at $723,000 after acquiring an additional 5,077 shares in the last quarter. Barclays PLC raised its stake in Hanmi Financial by 74.0% during the 3rd quarter. Barclays PLC now owns 67,158 shares of the bank’s stock valued at $1,248,000 after purchasing an additional 28,561 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Hanmi Financial by 29.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 41,953 shares of the bank’s stock valued at $780,000 after purchasing an additional 9,542 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Hanmi Financial by 24.7% in the third quarter. Jane Street Group LLC now owns 60,051 shares of the bank’s stock worth $1,117,000 after buying an additional 11,911 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in Hanmi Financial during the third quarter valued at $28,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HAFC. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Piper Sandler upgraded shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. DA Davidson upped their price objective on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target (up 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $24.38.

Hanmi Financial Trading Up 0.1 %

Shares of NASDAQ HAFC opened at $22.81 on Friday. The business has a 50 day simple moving average of $24.83 and a 200 day simple moving average of $20.82. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59. The stock has a market cap of $688.77 million, a price-to-earnings ratio of 10.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $108.86 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.62 earnings per share. On average, research analysts predict that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.38%. The ex-dividend date was Monday, November 4th. Hanmi Financial’s payout ratio is 48.08%.

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.