JPMorgan Chase & Co. Raises Stock Holdings in Hanmi Financial Co. (NASDAQ:HAFC)

JPMorgan Chase & Co. increased its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 71.8% in the third quarter, HoldingsChannel reports. The firm owned 836,145 shares of the bank’s stock after buying an additional 349,339 shares during the period. JPMorgan Chase & Co.’s holdings in Hanmi Financial were worth $15,552,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in shares of Hanmi Financial during the 3rd quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Hanmi Financial during the 3rd quarter worth $49,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after purchasing an additional 1,207 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Hanmi Financial during the 2nd quarter worth $168,000. Finally, The Manufacturers Life Insurance Company lifted its stake 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 worth $193,000 after purchasing an additional 911 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Trading Down 4.3 %

Shares of NASDAQ:HAFC opened at $21.39 on Friday. The business’s 50-day moving average is $24.76 and its 200 day moving average is $21.05. Hanmi Financial Co. has a 1 year low of $14.45 and a 1 year high of $27.59. The firm has a market capitalization of $645.89 million, a P/E ratio of 10.28 and a beta of 0.89. 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 (NASDAQ:HAFC) last announced its quarterly earnings data 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 analyst estimates of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same period in the prior year, the company earned $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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, November 4th. Hanmi Financial’s dividend payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

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

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.