Royce & Associates LP Sells 18,952 Shares of Hanmi Financial Corporation (NASDAQ:HAFC)

Royce & Associates LP decreased its holdings in Hanmi Financial Corporation (NASDAQ:HAFC) by 9.6% in the first quarter, HoldingsChannel.com reports. The fund owned 177,908 shares of the bank’s stock after selling 18,952 shares during the quarter. Royce & Associates LP’s holdings in Hanmi Financial were worth $4,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Allianz Asset Management GmbH boosted its stake in shares of Hanmi Financial by 109.2% in the first quarter. Allianz Asset Management GmbH now owns 33,889 shares of the bank’s stock worth $768,000 after acquiring an additional 17,689 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Hanmi Financial in the first quarter worth about $1,826,000. CWM LLC boosted its stake in shares of Hanmi Financial by 13.2% in the first quarter. CWM LLC now owns 35,594 shares of the bank’s stock worth $807,000 after acquiring an additional 4,139 shares during the period. Stieven Capital Advisors L.P. boosted its stake in shares of Hanmi Financial by 9.2% in the first quarter. Stieven Capital Advisors L.P. now owns 608,076 shares of the bank’s stock worth $13,779,000 after acquiring an additional 51,323 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Hanmi Financial by 24.0% in the first quarter. Cerity Partners LLC now owns 36,139 shares of the bank’s stock worth $819,000 after acquiring an additional 6,988 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Shares of Hanmi Financial stock opened at $23.40 on Monday. The stock has a 50 day moving average of $24.16 and a 200 day moving average of $23.32. Hanmi Financial Corporation has a 12 month low of $17.37 and a 12 month high of $27.59. The firm has a market cap of $706.91 million, a PE ratio of 10.88 and a beta of 0.73. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.12). Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. The company had revenue of $65.21 million for the quarter, compared to analysts’ expectations of $65.70 million. During the same quarter last year, the company earned $0.48 earnings per share. On average, research analysts expect that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, August 4th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a yield of 4.62%. Hanmi Financial’s dividend payout ratio (DPR) is presently 50.23%.

Analyst Ratings Changes

A number of equities analysts recently commented on HAFC shares. DA Davidson increased their price target on Hanmi Financial from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price target on Hanmi Financial from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler dropped their price target on Hanmi Financial from $28.50 to $28.00 and set an “overweight” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.00.

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.