Victory Capital Management Inc. Lowers Stake in Hanmi Financial Co. (NASDAQ:HAFC)

Victory Capital Management Inc. lessened its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 54.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,828 shares of the bank’s stock after selling 38,851 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of Hanmi Financial worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of HAFC. Metropolitan Life Insurance Co NY grew its position in Hanmi Financial by 77,888.9% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,019 shares of the bank’s stock valued at $134,000 after acquiring an additional 7,010 shares during the period. Carolina Wealth Advisors LLC lifted its stake in shares of Hanmi Financial by 21.0% during the third quarter. Carolina Wealth Advisors LLC now owns 9,001 shares of the bank’s stock worth $181,000 after purchasing an additional 1,564 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Hanmi Financial by 51.5% during the second quarter. MetLife Investment Management LLC now owns 11,484 shares of the bank’s stock worth $219,000 after purchasing an additional 3,903 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Hanmi Financial by 38.7% during the second quarter. Bank of Montreal Can now owns 11,945 shares of the bank’s stock worth $237,000 after purchasing an additional 3,331 shares in the last quarter. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Hanmi Financial during the third quarter worth about $245,000. 86.46% of the stock is owned by hedge funds and other institutional investors.

HAFC has been the topic of a number of recent research reports. DA Davidson upgraded Hanmi Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $28.00 in a research note on Monday, November 15th. TheStreet upgraded Hanmi Financial from a “c+” rating to a “b” rating in a research note on Wednesday, October 27th. Finally, Zacks Investment Research cut Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $25.33.

NASDAQ:HAFC opened at $26.72 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 0.97. Hanmi Financial Co. has a one year low of $12.00 and a one year high of $26.78. The business’s 50-day simple moving average is $23.67 and its 200 day simple moving average is $20.78. The stock has a market cap of $812.50 million, a price-to-earnings ratio of 10.28 and a beta of 1.25.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, October 26th. The bank reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.28. Hanmi Financial had a return on equity of 13.39% and a net margin of 31.07%. The business had revenue of $62.49 million for the quarter, compared to analysts’ expectations of $56.73 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, equities research analysts predict that Hanmi Financial Co. will post 2.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Monday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 5th. This represents a $0.80 annualized dividend and a yield of 2.99%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.12. Hanmi Financial’s dividend payout ratio is presently 30.77%.

About Hanmi Financial

Hanmi Financial Corp. is a holding company, which engages in the provision of commercial banking and financial services. It offers checking, money market and savings, treasury management, and loans. The company was founded in 1982 and is headquartered in Los Angeles, CA.

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

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