R Squared Ltd acquired a new stake in Hanmi Financial Corporation (NASDAQ:HAFC – Free Report) in the third quarter, HoldingsChannel.com reports. The fund acquired 20,436 shares of the bank’s stock, valued at approximately $631,000.
A number of other hedge funds also recently made changes to their positions in HAFC. Bank of New York Mellon Corp bought a new position in shares of Hanmi Financial during the 2nd quarter worth approximately $12,570,000. Sei Investments Co. raised its stake in Hanmi Financial by 212.4% in the 1st quarter. Sei Investments Co. now owns 50,903 shares of the bank’s stock valued at $1,342,000 after acquiring an additional 34,607 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Hanmi Financial by 26.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 413,571 shares of the bank’s stock valued at $10,902,000 after acquiring an additional 87,655 shares during the period. Dimensional Fund Advisors LP raised its stake in Hanmi Financial by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock valued at $46,416,000 after acquiring an additional 56,102 shares during the period. Finally, Rhino Investment Partners Inc lifted its holdings in Hanmi Financial by 4.9% during the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock valued at $23,248,000 after purchasing an additional 41,008 shares during the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. DA Davidson lifted their price objective on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Hanmi Financial in a report on Monday, September 21st. Finally, Piper Sandler increased their price objective on shares of Hanmi Financial from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.40.
Get Our Latest Analysis on Hanmi Financial
Hanmi Financial Stock Down 0.1%
Hanmi Financial stock opened at $32.54 on Friday. The stock has a market cap of $959.60 million, a P/E ratio of 10.71 and a beta of 0.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.09. Hanmi Financial Corporation has a twelve month low of $24.54 and a twelve month high of $34.46. The company’s 50-day moving average price is $31.92 and its two-hundred day moving average price is $30.06.
Hanmi Financial (NASDAQ:HAFC – Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Hanmi Financial had a return on equity of 11.30% and a net margin of 20.06%. The firm had revenue of $76.60 million for the quarter, compared to the consensus estimate of $75.13 million. As a group, analysts expect that Hanmi Financial Corporation will post 3.20 EPS for the current year.
Hanmi Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, November 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.4%. Hanmi Financial’s dividend payout ratio (DPR) is 36.84%.
Hanmi Financial Company Profile
Hanmi Financial Corporation is the bank holding company for Hanmi Bank, a commercial bank founded in 1982 to serve Korean-American communities. The company is headquartered in Los Angeles and serves businesses and individuals in California and other U.S. markets. Hanmi Bank provides business and personal deposit accounts, commercial real estate and business loans, Small Business Administration lending, and cash-management and other banking services. Its offerings include online and mobile banking, treasury management, and international banking services.
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