Principal Financial Group Inc. boosted its holdings in Hanmi Financial Corporation (NASDAQ:HAFC – Free Report) by 47.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,398 shares of the bank’s stock after purchasing an additional 66,833 shares during the quarter. Principal Financial Group Inc. owned about 0.70% of Hanmi Financial worth $5,493,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of HAFC. Fifth Third Bancorp increased its stake in Hanmi Financial by 3,464.6% in the first quarter. Fifth Third Bancorp now owns 7,949 shares of the bank’s stock valued at $210,000 after purchasing an additional 7,726 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Hanmi Financial during the first quarter worth about $223,000. Louisiana State Employees Retirement System purchased a new position in shares of Hanmi Financial during the first quarter worth about $345,000. SG Americas Securities LLC grew its holdings in shares of Hanmi Financial by 33.1% during the first quarter. SG Americas Securities LLC now owns 15,484 shares of the bank’s stock worth $408,000 after buying an additional 3,852 shares during the last quarter. Finally, Evolve Private Wealth LLC increased its position in Hanmi Financial by 4.6% in the 1st quarter. Evolve Private Wealth LLC now owns 26,606 shares of the bank’s stock valued at $701,000 after acquiring an additional 1,171 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.
Hanmi Financial Price Performance
Shares of NASDAQ:HAFC opened at $31.82 on Wednesday. Hanmi Financial Corporation has a 52 week low of $22.00 and a 52 week high of $33.50. The company has a 50-day moving average price of $31.46 and a 200 day moving average price of $28.95. The company has a market cap of $947.15 million, a P/E ratio of 10.71 and a beta of 0.72. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.
Hanmi Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, August 3rd will be paid a $0.28 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.5%. Hanmi Financial’s payout ratio is 37.71%.
Insider Buying and Selling at Hanmi Financial
In related news, insider Anthony I. Kim sold 5,333 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $30.73, for a total transaction of $163,883.09. Following the transaction, the insider owned 41,615 shares of the company’s stock, valued at $1,278,828.95. This represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.12% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
HAFC has been the subject of several analyst reports. Brean Capital reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday, May 28th. Keefe, Bruyette & Woods boosted their target price on Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a research note on Wednesday, June 24th. Capital One Financial set a $32.00 price target on Hanmi Financial in a report on Thursday, May 28th. Finally, Piper Sandler lifted their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.00.
View Our Latest Stock Analysis on Hanmi Financial
About Hanmi Financial
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.
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