Salzhauer Michael Cuts Stake in Hanmi Financial Co. (NASDAQ:HAFC)

Salzhauer Michael lessened its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,143 shares of the bank’s stock after selling 35,466 shares during the quarter. Hanmi Financial accounts for 0.5% of Salzhauer Michael’s investment portfolio, making the stock its 25th biggest position. Salzhauer Michael owned 0.23% of Hanmi Financial worth $1,610,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of Hanmi Financial by 71.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock valued at $15,552,000 after acquiring an additional 349,339 shares during the last quarter. FMR LLC lifted its position in Hanmi Financial by 26.1% in the third quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after purchasing an additional 182,164 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Hanmi Financial by 66.5% during the third quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock valued at $7,352,000 after purchasing an additional 157,792 shares during the period. Stieven Capital Advisors L.P. boosted its stake in shares of Hanmi Financial by 20.6% during the third quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock valued at $10,622,000 after purchasing an additional 97,500 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Hanmi Financial in the second quarter worth approximately $534,000. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Price Performance

Shares of HAFC stock opened at $24.58 on Monday. The business’s fifty day moving average is $23.91 and its 200 day moving average is $21.92. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. The stock has a market cap of $742.22 million, a price-to-earnings ratio of 11.99 and a beta of 0.88. Hanmi Financial Co. has a twelve month low of $14.45 and a twelve month high of $27.59.

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

Hanmi Financial Increases Dividend

The firm 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 an increase 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 dividend yield of 4.39%. Hanmi Financial’s dividend payout ratio (DPR) is currently 52.68%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HAFC. DA Davidson reissued a “neutral” rating and set a $27.50 price target on shares of Hanmi Financial in a research report on Thursday, January 30th. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Wedbush reissued a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 target price (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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.75.

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.