Comerica Bank Sells 683 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Comerica Bank lessened its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,845 shares of the bank’s stock after selling 683 shares during the period. Comerica Bank’s holdings in Hanmi Financial were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Hanmi Financial by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock worth $25,000 after acquiring an additional 747 shares during the period. Savant Capital LLC boosted its stake in shares of Hanmi Financial by 4.4% in the fourth quarter. Savant Capital LLC now owns 18,243 shares of the bank’s stock valued at $431,000 after buying an additional 776 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hanmi Financial by 1.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,303 shares of the bank’s stock valued at $1,944,000 after buying an additional 877 shares during the period. Legal & General Group Plc boosted its stake in shares of Hanmi Financial by 1.2% in the fourth quarter. Legal & General Group Plc now owns 80,571 shares of the bank’s stock valued at $1,903,000 after buying an additional 994 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Hanmi Financial by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 18,687 shares of the bank’s stock valued at $441,000 after buying an additional 995 shares during the period. Institutional investors own 88.66% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “neutral” rating and issued a $27.50 price target on shares of Hanmi Financial in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.75.

Hanmi Financial Trading Down 0.6%

Shares of HAFC stock opened at $23.86 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $720.86 million, a P/E ratio of 11.64 and a beta of 0.67. The stock has a 50 day simple moving average of $22.28 and a 200 day simple moving average of $23.52. Hanmi Financial Co. has a 1 year low of $14.95 and a 1 year high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.58 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 business had revenue of $62.82 million during the quarter, compared to the consensus estimate of $63.45 million. On average, research analysts predict that Hanmi Financial Co. will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

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 given a dividend of $0.27 per share. The ex-dividend date is Monday, May 5th. This represents a $1.08 annualized dividend and a yield of 4.53%. Hanmi Financial’s dividend payout ratio is currently 50.70%.

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.