Principal Financial Group Inc. Has $3.56 Million Stock Position in Hanmi Financial Corporation $HAFC

Principal Financial Group Inc. reduced its holdings in Hanmi Financial Corporation (NASDAQ:HAFC) by 19.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,229 shares of the bank’s stock after selling 35,369 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Hanmi Financial worth $3,561,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Hanmi Financial by 8.1% in the first quarter. Royal Bank of Canada now owns 16,441 shares of the bank’s stock worth $372,000 after acquiring an additional 1,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hanmi Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock worth $405,000 after purchasing an additional 780 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Hanmi Financial by 5.4% during the 1st quarter. Empowered Funds LLC now owns 114,624 shares of the bank’s stock worth $2,597,000 after purchasing an additional 5,920 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Hanmi Financial by 26.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,708 shares of the bank’s stock valued at $1,942,000 after buying an additional 18,112 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Hanmi Financial by 352.6% in the first quarter. Jane Street Group LLC now owns 44,723 shares of the bank’s stock valued at $1,013,000 after buying an additional 34,841 shares during the period. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Hanmi Financial Price Performance

Shares of HAFC stock opened at $26.85 on Tuesday. The stock’s fifty day simple moving average is $27.92 and its 200 day simple moving average is $26.28. Hanmi Financial Corporation has a one year low of $19.25 and a one year high of $30.20. The firm has a market cap of $804.16 million, a price-to-earnings ratio of 10.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. The company had revenue of $134.06 million for the quarter, compared to the consensus estimate of $71.40 million. On average, analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.2%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, February 9th. Hanmi Financial’s dividend payout ratio (DPR) is presently 44.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research lowered Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Piper Sandler boosted their price objective on Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped their target price on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.33.

Hanmi Financial Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.