Hanmi Financial Co. (NASDAQ:HAFC) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 22.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,386 shares of the bank’s stock after buying an additional 4,038 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Hanmi Financial worth $529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HAFC. Smartleaf Asset Management LLC grew its position in Hanmi Financial by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock valued at $25,000 after acquiring an additional 747 shares during the period. R Squared Ltd purchased a new stake in shares of Hanmi Financial during the 4th quarter worth about $43,000. Versant Capital Management Inc increased its position in Hanmi Financial by 110.7% during the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock worth $47,000 after purchasing an additional 1,035 shares in the last quarter. Quantbot Technologies LP increased its position in Hanmi Financial by 5,858.5% during the 4th quarter. Quantbot Technologies LP now owns 2,443 shares of the bank’s stock worth $58,000 after purchasing an additional 2,402 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Hanmi Financial in the fourth quarter valued at approximately $132,000. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Hanmi Financial Price Performance

HAFC stock opened at $23.49 on Friday. The firm has a market cap of $709.82 million, a P/E ratio of 11.46 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. Hanmi Financial Co. has a 1 year low of $14.95 and a 1 year high of $27.59. The stock has a 50-day simple moving average of $22.18 and a 200-day simple moving average of $23.40.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. The company had revenue of $62.82 million during the quarter, compared to the consensus estimate of $63.45 million. On average, equities analysts predict that Hanmi Financial Co. will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.60%. Hanmi Financial’s dividend payout ratio is currently 50.70%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “neutral” rating and set a $27.50 price objective on shares of Hanmi Financial in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Hanmi Financial currently has a consensus rating of “Hold” and an average target price 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.