SummerHaven Investment Management LLC boosted its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC – Free Report) by 63.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,612 shares of the bank’s stock after acquiring an additional 18,051 shares during the period. Hanmi Financial accounts for 1.0% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 26th biggest holding. SummerHaven Investment Management LLC owned approximately 0.16% of Hanmi Financial worth $1,440,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of HAFC. Integrated Wealth Concepts LLC bought a new position in shares of Hanmi Financial in the second quarter worth about $119,000. Squarepoint Ops LLC acquired a new position in shares of Hanmi Financial during the 2nd quarter worth about $434,000. Allworth Financial LP boosted its stake in Hanmi Financial by 62.6% during the 2nd quarter. Allworth Financial LP now owns 1,003 shares of the bank’s stock valued at $32,000 after purchasing an additional 386 shares during the period. Nykredit A S bought a new stake in Hanmi Financial during the 2nd quarter valued at approximately $35,000. Finally, iSAM Funds UK Ltd acquired a new stake in Hanmi Financial in the 2nd quarter valued at approximately $220,000. 88.66% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
HAFC has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a research report on Monday, September 21st. DA Davidson upped their price target on Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Hanmi Financial has an average rating of “Hold” and a consensus price target of $33.00.
Check Out Our Latest Analysis on Hanmi Financial
Hanmi Financial Price Performance
NASDAQ:HAFC opened at $31.12 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. Hanmi Financial Corporation has a one year low of $23.00 and a one year high of $33.50. The company has a fifty day moving average price of $31.57 and a 200 day moving average price of $30.84. The stock has a market cap of $922.71 million, a P/E ratio of 10.48 and a beta of 0.75.
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. The company had revenue of $72.21 million for the quarter, compared to analyst estimates of $74.03 million. Analysts anticipate that Hanmi Financial Corporation will post 3.19 earnings per share for the current year.
Hanmi Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.6%. Hanmi Financial’s dividend payout ratio is currently 37.71%.
Hanmi Financial Profile
Hanmi Financial Corporation is the parent company of Hanmi Bank, a community-focused commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American communities and has expanded its customer base to include small and middle-market businesses, professionals, and individuals in diverse communities.
Hanmi Bank offers commercial and consumer banking products, including business loans, commercial real estate financing, Small Business Administration loans, commercial and residential mortgage lending, checking and savings accounts, certificates of deposit, and consumer loans.
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