Hanmi Financial Co. (NASDAQ:HAFC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,875 shares of the bank’s stock after selling 1,547 shares during the period. Principal Financial Group Inc.’s holdings in Hanmi Financial were worth $2,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of HAFC. GAMMA Investing LLC acquired a new position in Hanmi Financial in the fourth quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new position in shares of Hanmi Financial in the 4th quarter worth approximately $37,000. Simplex Trading LLC boosted its position in shares of Hanmi Financial by 1,406.7% during the 4th quarter. Simplex Trading LLC now owns 2,034 shares of the bank’s stock worth $39,000 after purchasing an additional 1,899 shares during the period. CWM LLC increased its holdings in Hanmi Financial by 291.6% in the 4th quarter. CWM LLC now owns 2,232 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,662 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Hanmi Financial in the fourth quarter valued at approximately $46,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Stock Down 1.7 %

HAFC traded down $0.27 on Friday, hitting $15.96. 26,770 shares of the company were exchanged, compared to its average volume of 243,382. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The company has a market cap of $485.02 million, a price-to-earnings ratio of 6.76 and a beta of 0.90. The firm has a 50-day moving average price of $15.82 and a two-hundred day moving average price of $16.24. Hanmi Financial Co. has a twelve month low of $13.87 and a twelve month high of $20.31.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). Hanmi Financial had a net margin of 17.63% and a return on equity of 10.70%. The firm had revenue of $58.39 million during the quarter, compared to analyst estimates of $58.83 million. On average, equities analysts predict that Hanmi Financial Co. will post 2.02 earnings per share for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Monday, May 6th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.27%. Hanmi Financial’s payout ratio is currently 41.67%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Hanmi Financial in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 target price (down from $18.50) on shares of Hanmi Financial in a research report on Wednesday, April 24th.

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.