CANADA LIFE ASSURANCE Co Sells 3,503 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

CANADA LIFE ASSURANCE Co lessened its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,821 shares of the bank’s stock after selling 3,503 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.09% of Hanmi Financial worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings in Hanmi Financial by 227.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock worth $25,000 after purchasing an additional 747 shares in the last quarter. R Squared Ltd purchased a new stake in Hanmi Financial in the fourth quarter worth about $43,000. Versant Capital Management Inc boosted its position in Hanmi Financial by 110.7% during the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,035 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Hanmi Financial by 5,858.5% during the 4th quarter. Quantbot Technologies LP now owns 2,443 shares of the bank’s stock worth $58,000 after acquiring an additional 2,402 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Hanmi Financial in the 4th quarter worth approximately $132,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson restated a “neutral” rating and set a $27.50 price target on shares of Hanmi Financial in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Hanmi Financial currently has a consensus rating of “Hold” and an average price target of $25.75.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $23.14 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. The company has a 50 day simple moving average of $22.22 and a two-hundred day simple moving average of $23.35. Hanmi Financial Co. has a fifty-two week low of $14.95 and a fifty-two week high of $27.59. The company has a market capitalization of $699.24 million, a price-to-earnings ratio of 11.29 and a beta of 0.68.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. The business had revenue of $62.82 million during the quarter, compared to analysts’ expectations of $63.45 million. Analysts expect that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.67%. The ex-dividend date is Monday, May 5th. Hanmi Financial’s dividend payout ratio (DPR) is 50.70%.

Hanmi Financial Company Profile

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