Hanmi Financial Corp (HAFC) Shares Sold by Renaissance Technologies LLC

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Renaissance Technologies LLC cut its holdings in Hanmi Financial Corp (NASDAQ:HAFC) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 978,057 shares of the bank’s stock after selling 38,000 shares during the period. Renaissance Technologies LLC owned 3.01% of Hanmi Financial worth $27,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HAFC. BlackRock Inc. grew its stake in Hanmi Financial by 6.2% during the second quarter. BlackRock Inc. now owns 4,618,457 shares of the bank’s stock valued at $130,934,000 after acquiring an additional 271,266 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Hanmi Financial by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,187,131 shares of the bank’s stock valued at $62,006,000 after purchasing an additional 123,016 shares during the last quarter. Millennium Management LLC lifted its position in Hanmi Financial by 26.5% during the first quarter. Millennium Management LLC now owns 573,555 shares of the bank’s stock valued at $17,637,000 after purchasing an additional 120,190 shares during the last quarter. Citadel Advisors LLC lifted its position in Hanmi Financial by 106.4% during the second quarter. Citadel Advisors LLC now owns 170,501 shares of the bank’s stock valued at $4,834,000 after purchasing an additional 87,879 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Hanmi Financial by 14.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 527,216 shares of the bank’s stock valued at $14,946,000 after purchasing an additional 67,935 shares during the last quarter. Institutional investors and hedge funds own 88.52% of the company’s stock.

HAFC traded down $0.71 on Friday, reaching $22.80. 255,491 shares of the company traded hands, compared to its average volume of 189,806. Hanmi Financial Corp has a one year low of $22.06 and a one year high of $33.10. The firm has a market capitalization of $809.58 million, a price-to-earnings ratio of 12.60, a PEG ratio of 1.59 and a beta of 0.79. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, July 24th. The bank reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Hanmi Financial had a net margin of 22.68% and a return on equity of 10.76%. The company had revenue of $51.06 million for the quarter, compared to the consensus estimate of $55.13 million. On average, equities analysts anticipate that Hanmi Financial Corp will post 1.96 earnings per share for the current fiscal year.

Hanmi Financial declared that its board has approved a share repurchase plan on Thursday, August 30th that allows the company to buyback 1,600,000 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other Hanmi Financial news, Director Scott Diehl bought 4,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were acquired at an average price of $25.43 per share, with a total value of $101,720.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.68% of the company’s stock.

Several research firms have commented on HAFC. ValuEngine upgraded shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 18th. BidaskClub lowered shares of Hanmi Financial from a “sell” rating to a “strong sell” rating in a report on Friday, July 20th. Raymond James lowered their target price on shares of Hanmi Financial from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, July 30th. Zacks Investment Research upgraded shares of Hanmi Financial from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday, July 23rd. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $29.00 target price on shares of Hanmi Financial in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.00.

Hanmi Financial Profile

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.

Further Reading: What is a stock split?

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

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