Wells Fargo & Company MN trimmed its holdings in Hanmi Financial Corporation (NASDAQ:HAFC) by 13.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,468 shares of the bank’s stock after selling 28,791 shares during the quarter. Wells Fargo & Company MN owned about 0.56% of Hanmi Financial Corporation worth $5,106,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HAFC. Victory Capital Management Inc. acquired a new position in Hanmi Financial Corporation in the first quarter valued at approximately $134,000. State of Alaska Department of Revenue boosted its holdings in Hanmi Financial Corporation by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 6,401 shares of the bank’s stock valued at $182,000 after purchasing an additional 2,831 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Hanmi Financial Corporation by 4.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,630 shares of the bank’s stock valued at $217,000 after purchasing an additional 300 shares in the last quarter. Airain ltd acquired a new position in Hanmi Financial Corporation in the second quarter valued at approximately $226,000. Finally, Mason Street Advisors LLC boosted its holdings in Hanmi Financial Corporation by 7.3% in the first quarter. Mason Street Advisors LLC now owns 7,559 shares of the bank’s stock valued at $232,000 after purchasing an additional 511 shares in the last quarter. 88.39% of the stock is owned by hedge funds and other institutional investors.

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Shares of Hanmi Financial Corporation (NASDAQ HAFC) opened at 31.40 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of 18.26 and a beta of 0.81. Hanmi Financial Corporation has a 52 week low of $22.76 and a 52 week high of $35.85. The firm has a 50-day moving average price of $28.66 and a 200-day moving average price of $28.52.

Hanmi Financial Corporation (NASDAQ:HAFC) last issued its earnings results on Tuesday, July 18th. The bank reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $52.88 million during the quarter, compared to analyst estimates of $50.85 million. Hanmi Financial Corporation had a return on equity of 10.41% and a net margin of 24.79%. During the same quarter last year, the firm earned $0.44 EPS. On average, analysts forecast that Hanmi Financial Corporation will post $1.82 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on HAFC. Zacks Investment Research raised Hanmi Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. ValuEngine raised Hanmi Financial Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. BidaskClub downgraded Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods set a $28.00 price target on Hanmi Financial Corporation and gave the company a “hold” rating in a report on Saturday, October 7th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.00 price target on shares of Hanmi Financial Corporation in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $31.00.

About Hanmi Financial Corporation

Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.

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Institutional Ownership by Quarter for Hanmi Financial Corporation (NASDAQ:HAFC)

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