Royce & Associates LP Acquires 1,089 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Royce & Associates LP raised its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 192,802 shares of the bank’s stock after buying an additional 1,089 shares during the period. Royce & Associates LP’s holdings in Hanmi Financial were worth $3,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Hanmi Financial during the third quarter valued at $49,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after buying an additional 1,207 shares in the last quarter. EntryPoint Capital LLC boosted its position in Hanmi Financial by 278.4% in the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock valued at $135,000 after buying an additional 6,242 shares during the period. Marshall Wace LLP bought a new position in Hanmi Financial in the 2nd quarter worth about $168,000. Finally, EMC Capital Management increased its position in shares of Hanmi Financial by 8.9% during the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $187,000 after acquiring an additional 958 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Shares of HAFC stock opened at $25.59 on Tuesday. The stock’s 50-day moving average is $20.87 and its 200 day moving average is $18.60. Hanmi Financial Co. has a 1-year low of $14.45 and a 1-year high of $26.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market cap of $772.82 million, a P/E ratio of 12.33 and a beta of 0.84.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The firm had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. During the same quarter in the previous year, the firm earned $0.62 EPS. Research analysts predict that Hanmi Financial Co. will post 2 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.91%. Hanmi Financial’s dividend payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

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

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.