Allspring Global Investments Holdings LLC Has $594,000 Stake in Hanmi Financial Corporation $HAFC

Allspring Global Investments Holdings LLC reduced its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,298 shares of the bank’s stock after selling 1,814 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Hanmi Financial worth $594,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in Hanmi Financial by 91.4% during the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank’s stock worth $32,000 after purchasing an additional 681 shares during the last quarter. Russell Investments Group Ltd. raised its position in Hanmi Financial by 8,375.5% during the 1st quarter. Russell Investments Group Ltd. now owns 45,598 shares of the bank’s stock worth $1,033,000 after purchasing an additional 45,060 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Hanmi Financial during the 1st quarter worth $258,000. Walleye Capital LLC bought a new position in Hanmi Financial during the 1st quarter worth $323,000. Finally, American Century Companies Inc. raised its position in Hanmi Financial by 10.1% during the 1st quarter. American Century Companies Inc. now owns 818,831 shares of the bank’s stock worth $18,555,000 after purchasing an additional 75,365 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HAFC. Zacks Research raised Hanmi Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. DA Davidson lifted their price objective on Hanmi Financial from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Piper Sandler lowered their price objective on Hanmi Financial from $28.50 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Keefe, Bruyette & Woods lifted their price objective on Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hanmi Financial in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.50.

Hanmi Financial Stock Performance

Shares of Hanmi Financial stock opened at $26.03 on Friday. Hanmi Financial Corporation has a one year low of $19.25 and a one year high of $27.59. The firm has a market capitalization of $784.28 million, a price-to-earnings ratio of 10.89 and a beta of 0.71. The business has a 50-day simple moving average of $24.73 and a 200 day simple moving average of $23.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $70.96 million during the quarter, compared to analyst estimates of $67.80 million. Hanmi Financial had a return on equity of 9.59% and a net margin of 16.53%. On average, research analysts anticipate that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

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.