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

Renaissance Technologies LLC reduced its stake in Hanmi Financial Corporation (NASDAQ:HAFC) by 42.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,511 shares of the bank’s stock after selling 137,341 shares during the period. Renaissance Technologies LLC’s holdings in Hanmi Financial were worth $4,890,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of Hanmi Financial by 26.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 413,571 shares of the bank’s stock worth $10,902,000 after purchasing an additional 87,655 shares during the last quarter. Sei Investments Co. raised its holdings in Hanmi Financial by 212.4% during the 1st quarter. Sei Investments Co. now owns 50,903 shares of the bank’s stock valued at $1,342,000 after buying an additional 34,607 shares during the last quarter. First Trust Advisors LP boosted its position in Hanmi Financial by 13.6% during the 1st quarter. First Trust Advisors LP now owns 136,457 shares of the bank’s stock valued at $3,597,000 after buying an additional 16,337 shares during the period. Summit Global Investments purchased a new stake in Hanmi Financial during the 1st quarter valued at $925,000. Finally, Harbor Advisors LLC grew its holdings in Hanmi Financial by 33.3% in the 1st quarter. Harbor Advisors LLC now owns 20,000 shares of the bank’s stock worth $527,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Insider Activity at Hanmi Financial

In related news, insider Anthony I. Kim sold 5,333 shares of Hanmi Financial stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $30.73, for a total transaction of $163,883.09. Following the sale, the insider directly owned 41,615 shares in the company, 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 through this hyperlink. 2.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HAFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted 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 research report on Wednesday, June 24th. Brean Capital reiterated a “neutral” rating and issued a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Capital One Financial set a $32.00 target price on Hanmi Financial in a research note on Thursday, May 28th. Finally, Piper Sandler upped their target price on Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hanmi Financial has an average rating of “Hold” and an average price target of $33.00.

Hanmi Financial Price Performance

Shares of 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 company’s 50-day moving average is $31.70 and its 200 day moving average is $29.14. The stock has a market capitalization of $957.87 million, a P/E ratio of 10.84 and a beta of 0.73.

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

Hanmi Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. Hanmi Financial’s dividend payout ratio is currently 37.71%.

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.