First Citizens Bank & Trust Co. reduced its stake in shares of Hanmi Financial Corp. (NASDAQ:HAFC) by 9.2% during the second quarter, Holdings Channel reports. The firm owned 15,490 shares of the company’s stock after selling 1,568 shares during the period. First Citizens Bank & Trust Co.’s holdings in Hanmi Financial Corp. were worth $364,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Virginia Retirement System purchased a new stake in Hanmi Financial Corp. during the first quarter valued at $344,000. TIAA CREF Investment Management LLC raised its stake in Hanmi Financial Corp. by 19.5% in the first quarter. TIAA CREF Investment Management LLC now owns 193,820 shares of the company’s stock valued at $4,268,000 after buying an additional 31,600 shares during the period. BlackRock Group LTD raised its stake in Hanmi Financial Corp. by 10.0% in the first quarter. BlackRock Group LTD now owns 35,030 shares of the company’s stock valued at $771,000 after buying an additional 3,179 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Hanmi Financial Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 936,317 shares of the company’s stock valued at $20,618,000 after buying an additional 13,769 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Hanmi Financial Corp. by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 942,036 shares of the company’s stock valued at $20,744,000 after buying an additional 51,600 shares during the period. 86.20% of the stock is currently owned by institutional investors.
Hanmi Financial Corp. (NASDAQ:HAFC) traded down 7.58% during trading on Tuesday, reaching $23.90. The company had a trading volume of 335,977 shares. Hanmi Financial Corp. has a 12 month low of $18.92 and a 12 month high of $28.09. The firm has a market capitalization of $762.43 million, a price-to-earnings ratio of 13.35 and a beta of 1.07. The stock has a 50 day moving average price of $26.39 and a 200 day moving average price of $24.25.
Hanmi Financial Corp. (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.03. Hanmi Financial Corp. had a net margin of 27.43% and a return on equity of 11.49%. During the same period last year, the firm earned $0.44 EPS. On average, equities research analysts predict that Hanmi Financial Corp. will post $1.79 earnings per share for the current year.
Several brokerages have recently issued reports on HAFC. Zacks Investment Research upgraded Hanmi Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Tuesday, June 21st. Raymond James Financial Inc. upgraded Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Thursday, August 25th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.20.
In other news, Director Joon Hyung Lee sold 2,412 shares of Hanmi Financial Corp. stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $25.33, for a total transaction of $61,095.96. Following the transaction, the director now directly owns 270,285 shares in the company, valued at approximately $6,846,319.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.91% of the company’s stock.
About Hanmi Financial Corp.
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
Want to see what other hedge funds are holding HAFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanmi Financial Corp. (NASDAQ:HAFC).
Receive News & Ratings for Hanmi Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.