Aigen Investment Management LP Sells 3,929 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Aigen Investment Management LP reduced its position in Hanmi Financial Co. (NASDAQ:HAFC) by 27.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,221 shares of the bank’s stock after selling 3,929 shares during the period. Aigen Investment Management LP’s holdings in Hanmi Financial were worth $190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HAFC. Vanguard Group Inc. raised its stake in shares of Hanmi Financial by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock worth $35,903,000 after purchasing an additional 58,097 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Hanmi Financial by 147.5% during the 1st quarter. Acadian Asset Management LLC now owns 280,909 shares of the bank’s stock valued at $4,471,000 after acquiring an additional 167,430 shares during the period. Boston Partners purchased a new stake in shares of Hanmi Financial during the 1st quarter valued at about $596,000. SG Americas Securities LLC bought a new stake in shares of Hanmi Financial in the second quarter worth approximately $322,000. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Hanmi Financial by 129.0% during the second quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank’s stock valued at $1,002,000 after purchasing an additional 33,747 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a report on Wednesday, October 23rd. DA Davidson lifted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $25.50 in a research note on Thursday, October 24th. Finally, Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $25.65 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a 50-day simple moving average of $20.87 and a two-hundred day simple moving average of $18.55. The firm has a market capitalization of $774.53 million, a PE ratio of 12.33 and a beta of 0.84. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $26.30.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The company had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. During the same period in the prior year, the firm posted $0.62 EPS. Analysts forecast that Hanmi Financial Co. will post 2.01 EPS for the current year.

Hanmi Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.90%. The ex-dividend date is Monday, November 4th. Hanmi Financial’s dividend payout ratio is currently 48.08%.

About Hanmi Financial

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.