Bank of America Corp DE Sells 407,084 Shares of Hafnia Limited (NYSE:HAFN)

Bank of America Corp DE reduced its position in shares of Hafnia Limited (NYSE:HAFN) by 81.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,275 shares of the company’s stock after selling 407,084 shares during the quarter. Bank of America Corp DE’s holdings in Hafnia were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HAFN. WealthCollab LLC bought a new position in Hafnia in the 4th quarter worth $28,000. Wells Fargo & Company MN raised its holdings in Hafnia by 7,756.1% in the 4th quarter. Wells Fargo & Company MN now owns 18,776 shares of the company’s stock worth $105,000 after purchasing an additional 18,537 shares in the last quarter. Callan Capital LLC bought a new position in Hafnia in the 4th quarter worth $112,000. Virtu Financial LLC bought a new position in Hafnia in the 4th quarter worth $117,000. Finally, HighTower Advisors LLC bought a new position in Hafnia in the 4th quarter worth $124,000.

Analysts Set New Price Targets

Separately, Fearnley Fonds upgraded shares of Hafnia to a “strong-buy” rating in a report on Tuesday, May 6th.

Hafnia Price Performance

Shares of NYSE HAFN opened at $5.11 on Wednesday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 3.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. Hafnia Limited has a fifty-two week low of $3.61 and a fifty-two week high of $8.44. The company has a 50 day simple moving average of $4.73 and a two-hundred day simple moving average of $4.96.

Hafnia (NYSE:HAFN) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $340.34 million during the quarter, compared to analyst estimates of $250.80 million. Hafnia had a net margin of 53.44% and a return on equity of 36.90%.

Hafnia Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, June 4th. Shareholders of record on Monday, May 26th were paid a dividend of $0.1015 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a yield of 7.59%. Hafnia’s dividend payout ratio is currently 33.06%.

Hafnia Company Profile

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.