Renaissance Technologies LLC Sells 137,341 Shares of Hanmi Financial Corporation $HAFC

Renaissance Technologies LLC trimmed its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 42.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,511 shares of the bank’s stock after selling 137,341 shares during the quarter. Renaissance Technologies LLC owned about 0.62% of Hanmi Financial worth $4,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HAFC. Vanguard Group Inc. boosted its position in shares of Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock valued at $59,513,000 after acquiring an additional 45,511 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Hanmi Financial by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock worth $46,416,000 after purchasing an additional 56,102 shares during the last quarter. State Street Corp increased its position in shares of Hanmi Financial by 0.3% in the fourth quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock worth $36,487,000 after purchasing an additional 4,651 shares during the last quarter. Geode Capital Management LLC raised its stake in Hanmi Financial by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 837,483 shares of the bank’s stock valued at $22,641,000 after purchasing an additional 25,143 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Hanmi Financial by 30.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock valued at $21,260,000 after purchasing an additional 181,509 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HAFC shares. Piper Sandler boosted their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th. DA Davidson upped their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, Brean Capital reissued a “neutral” rating and issued a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.00.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $32.18 on Friday. Hanmi Financial Corporation has a 1-year low of $22.35 and a 1-year high of $33.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day moving average of $31.70 and a 200 day moving average of $29.14. The company has a market capitalization of $957.87 million, a price-to-earnings ratio of 10.84 and a beta of 0.73.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The firm had revenue of $72.21 million for the quarter, compared to the consensus estimate of $74.03 million. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. On average, sell-side analysts predict that Hanmi Financial Corporation will post 3.18 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, August 3rd will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, August 3rd. Hanmi Financial’s dividend payout ratio (DPR) is presently 37.71%.

Insider Buying and Selling

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the sale, the insider directly owned 41,615 shares of the company’s stock, valued at $1,278,828.95. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.12% of the stock is currently owned by insiders.

Hanmi Financial Company 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.