Geode Capital Management LLC Has $13.61 Million Stock Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

Geode Capital Management LLC lessened its position in Hanmi Financial Co. (NASDAQ:HAFC) by 1.8% during the 3rd quarter, Holdings Channel reports. The firm owned 731,699 shares of the bank’s stock after selling 13,763 shares during the quarter. Geode Capital Management LLC’s holdings in Hanmi Financial were worth $13,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in Hanmi Financial by 32.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock worth $17,937,000 after buying an additional 261,545 shares in the last quarter. FMR LLC lifted its position in Hanmi Financial by 26.1% during the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after buying an additional 182,164 shares in the last quarter. American Century Companies Inc. lifted its position in Hanmi Financial by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock worth $9,667,000 after buying an additional 82,087 shares in the last quarter. Stieven Capital Advisors L.P. lifted its position in Hanmi Financial by 20.6% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock worth $10,622,000 after buying an additional 97,500 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Hanmi Financial by 71.8% during the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after buying an additional 201,789 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC opened at $23.48 on Tuesday. The company has a market capitalization of $709.00 million, a price-to-earnings ratio of 11.29 and a beta of 0.87. The firm’s 50 day simple moving average is $24.70 and its 200 day simple moving average is $20.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial Co. has a fifty-two week low of $14.45 and a fifty-two week high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, meeting 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 net margin of 14.80% and a return on equity of 8.87%. During the same period last year, the company posted $0.62 EPS. As a group, sell-side analysts forecast that Hanmi Financial Co. will post 2 earnings per share for the current year.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.26%. Hanmi Financial’s dividend payout ratio is 48.08%.

Analyst Ratings Changes

HAFC has been the topic of several research reports. DA Davidson upped their price target on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 target price (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Piper Sandler upgraded shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their target price for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. Finally, Wedbush restated a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Hanmi Financial currently has a consensus rating of “Hold” and an average target price of $24.38.

Hanmi Financial Company 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.