Intech Investment Management LLC Sells 34,945 Shares of Hanmi Financial Corporation $HAFC

Intech Investment Management LLC decreased its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 50.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,714 shares of the bank’s stock after selling 34,945 shares during the quarter. Intech Investment Management LLC owned about 0.12% of Hanmi Financial worth $857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. LSV Asset Management lifted its holdings in Hanmi Financial by 3.0% during the second quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock worth $34,983,000 after acquiring an additional 40,684 shares during the period. American Century Companies Inc. boosted its position in Hanmi Financial by 6.5% during the second quarter. American Century Companies Inc. now owns 872,020 shares of the bank’s stock worth $21,521,000 after purchasing an additional 53,189 shares during the period. Geode Capital Management LLC grew its stake in Hanmi Financial by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock valued at $19,728,000 after buying an additional 21,157 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Hanmi Financial by 2.1% in the second quarter. Ameriprise Financial Inc. now owns 328,392 shares of the bank’s stock valued at $8,105,000 after purchasing an additional 6,835 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Hanmi Financial by 6.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 320,319 shares of the bank’s stock valued at $7,905,000 after buying an additional 20,270 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Shares of HAFC opened at $25.76 on Monday. Hanmi Financial Corporation has a 1-year low of $19.25 and a 1-year high of $30.20. The firm has a fifty day simple moving average of $27.38 and a two-hundred day simple moving average of $26.62. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The firm has a market cap of $769.97 million, a PE ratio of 10.26 and a beta of 0.74.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $71.20 million for the quarter, compared to the consensus estimate of $71.40 million. Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. On average, equities analysts anticipate that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hanmi Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.3%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 9th. Hanmi Financial’s payout ratio is presently 44.62%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HAFC shares. Wall Street Zen lowered Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Zacks Research downgraded shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. DA Davidson reiterated a “neutral” rating and set a $29.50 target price on shares of Hanmi Financial in a report on Thursday, January 29th. Finally, Piper Sandler lifted their price target on shares of Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Hanmi Financial currently has a consensus rating of “Hold” and an average target price 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.