Royce & Associates LP Increases Position in Hanmi Financial Co. (NASDAQ:HAFC)

Royce & Associates LP lifted its position in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,802 shares of the bank’s stock after buying an additional 1,089 shares during the quarter. Royce & Associates LP owned approximately 0.64% of Hanmi Financial worth $3,586,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Hanmi Financial in the third quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Hanmi Financial by 47.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after purchasing an additional 1,207 shares during the period. EntryPoint Capital LLC boosted its stake in Hanmi Financial by 278.4% in the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after purchasing an additional 6,242 shares during the period. Marshall Wace LLP purchased a new stake in Hanmi Financial during the 2nd quarter valued at approximately $168,000. Finally, EMC Capital Management raised 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 valued at $187,000 after buying an additional 958 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Stock Down 0.2 %

Shares of NASDAQ HAFC opened at $25.59 on Tuesday. The stock has a market capitalization of $772.82 million, a price-to-earnings ratio of 12.33 and a beta of 0.84. Hanmi Financial Co. has a 12-month low of $14.45 and a 12-month high of $26.30. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $20.87 and its 200-day moving average price is $18.60.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same period last year, the company earned $0.62 EPS. On average, equities research analysts anticipate that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

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

Wall Street Analyst Weigh In

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

Hanmi Financial 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.