Quest Partners LLC Grows Stock Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

Quest Partners LLC boosted its position in Hanmi Financial Co. (NASDAQ:HAFC) by 24.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 46,280 shares of the bank’s stock after purchasing an additional 9,176 shares during the period. Quest Partners LLC’s holdings in Hanmi Financial were worth $861,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of Hanmi Financial by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock valued at $193,000 after acquiring an additional 911 shares during the period. EMC Capital Management lifted its position in Hanmi Financial by 8.9% during the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock valued at $187,000 after purchasing an additional 958 shares in the last quarter. Royce & Associates LP grew its holdings in Hanmi Financial by 0.6% during the third quarter. Royce & Associates LP now owns 192,802 shares of the bank’s stock valued at $3,586,000 after purchasing an additional 1,089 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after buying an additional 1,207 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Hanmi Financial by 3.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 54,423 shares of the bank’s stock worth $866,000 after buying an additional 2,004 shares during the period. 88.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $25.75 on Friday. The firm’s fifty day moving average is $21.29 and its two-hundred day moving average is $18.78. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $26.30. The company has a market cap of $777.65 million, a P/E ratio of 12.19 and a beta of 0.84. 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 released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $108.86 million for 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 quarter in the previous year, the company posted $0.62 EPS. As a group, analysts anticipate that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.88%. Hanmi Financial’s dividend payout ratio (DPR) is currently 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.