Ameriprise Financial Inc. Sells 52,835 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Ameriprise Financial Inc. lowered its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,055 shares of the bank’s stock after selling 52,835 shares during the period. Ameriprise Financial Inc. owned about 0.81% of Hanmi Financial worth $5,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Algert Global LLC grew its position in Hanmi Financial by 2.3% in the fourth quarter. Algert Global LLC now owns 174,791 shares of the bank’s stock valued at $4,129,000 after purchasing an additional 3,944 shares in the last quarter. Rhino Investment Partners Inc bought a new position in Hanmi Financial in the fourth quarter valued at $15,400,000. Northern Trust Corp grew its position in Hanmi Financial by 7.0% in the fourth quarter. Northern Trust Corp now owns 328,274 shares of the bank’s stock valued at $7,754,000 after purchasing an additional 21,447 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Hanmi Financial by 39.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 72,759 shares of the bank’s stock valued at $1,719,000 after purchasing an additional 20,437 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Hanmi Financial in the fourth quarter valued at $79,000. Institutional investors own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed a “neutral” rating and issued a $27.50 target price on shares of Hanmi Financial in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.75.

Hanmi Financial Stock Performance

Shares of HAFC opened at $22.81 on Friday. The firm has a 50-day moving average of $22.44 and a 200-day moving average of $23.54. Hanmi Financial Co. has a one year low of $14.95 and a one year high of $27.59. The company has a market cap of $689.14 million, a PE ratio of 11.13 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, 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, April 22nd. The bank reported $0.58 EPS for the quarter, beating analysts’ consensus estimates 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. As a group, equities analysts forecast that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Monday, May 5th. Hanmi Financial’s dividend payout ratio (DPR) is presently 50.70%.

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.