Hanmi Financial Co. (NASDAQ:HAFC) Shares Purchased by Cresset Asset Management LLC

Cresset Asset Management LLC boosted its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,990 shares of the bank’s stock after purchasing an additional 535 shares during the period. Cresset Asset Management LLC owned approximately 0.19% of Hanmi Financial worth $1,346,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Hanmi Financial by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,776,133 shares of the bank’s stock valued at $41,952,000 after acquiring an additional 31,634 shares in the last quarter. LSV Asset Management grew its stake in shares of Hanmi Financial by 4.2% during the fourth quarter. LSV Asset Management now owns 1,183,181 shares of the bank’s stock valued at $27,947,000 after acquiring an additional 47,700 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Hanmi Financial by 13.0% during the fourth quarter. American Century Companies Inc. now owns 743,466 shares of the bank’s stock valued at $17,561,000 after acquiring an additional 85,425 shares in the last quarter. Rhino Investment Partners Inc acquired a new position in Hanmi Financial in the fourth quarter worth about $15,400,000. Finally, Bank of New York Mellon Corp grew its stake in Hanmi Financial by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 489,126 shares of the bank’s stock worth $11,553,000 after purchasing an additional 41,020 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “neutral” rating and issued a $27.50 price target on shares of Hanmi Financial in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.75.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $23.35 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $22.15 and its two-hundred day moving average price is $23.50. Hanmi Financial Co. has a 52-week low of $14.95 and a 52-week high of $27.59. The stock has a market capitalization of $705.59 million, a P/E ratio of 11.39 and a beta of 0.67.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, April 22nd. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. The firm had revenue of $62.82 million for the quarter, compared to analysts’ expectations of $63.45 million. As a group, sell-side analysts forecast that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.63%. Hanmi Financial’s dividend payout ratio is currently 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.