Principal Financial Group Inc. Has $3.56 Million Position in Hanmi Financial Corporation $HAFC

Principal Financial Group Inc. lessened its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 19.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 144,229 shares of the bank’s stock after selling 35,369 shares during the period. Principal Financial Group Inc.’s holdings in Hanmi Financial were worth $3,561,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Hanmi Financial by 2.7% during the second quarter. Geode Capital Management LLC now owns 799,205 shares of the bank’s stock valued at $19,728,000 after purchasing an additional 21,157 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Hanmi Financial during the 3rd quarter worth approximately $7,191,000. Texas Permanent School Fund Corp raised its stake in shares of Hanmi Financial by 139.0% during the second quarter. Texas Permanent School Fund Corp now owns 64,825 shares of the bank’s stock worth $1,600,000 after buying an additional 37,707 shares during the last quarter. American Century Companies Inc. lifted its holdings in Hanmi Financial by 6.5% in the second quarter. American Century Companies Inc. now owns 872,020 shares of the bank’s stock valued at $21,521,000 after buying an additional 53,189 shares during the period. Finally, De Lisle Partners LLP lifted its holdings in Hanmi Financial by 14.2% in the second quarter. De Lisle Partners LLP now owns 81,902 shares of the bank’s stock valued at $2,024,000 after buying an additional 10,199 shares during the period. 88.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on HAFC shares. Keefe, Bruyette & Woods lifted their target price on shares of Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. Piper Sandler lifted their price objective on Hanmi Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. Wall Street Zen cut Hanmi Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $29.50 price target on shares of Hanmi Financial in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.33.

Hanmi Financial Stock Up 0.3%

Shares of Hanmi Financial stock opened at $26.85 on Tuesday. The company has a market capitalization of $804.16 million, a P/E ratio of 10.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average of $27.92 and a two-hundred day moving average of $26.28. Hanmi Financial Corporation has a 1 year low of $19.25 and a 1 year high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. The business had revenue of $134.06 million for the quarter, compared to the consensus estimate of $71.40 million. As a group, equities analysts predict that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hanmi Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th will be given a dividend of $0.28 per share. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, February 9th. Hanmi Financial’s payout ratio is currently 44.62%.

Hanmi Financial 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.