EMC Capital Management Buys 7,284 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

EMC Capital Management boosted its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 162.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,768 shares of the bank’s stock after acquiring an additional 7,284 shares during the quarter. EMC Capital Management’s holdings in Hanmi Financial were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Hanmi Financial by 71.8% in the third quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock valued at $15,552,000 after purchasing an additional 349,339 shares in the last quarter. FMR LLC raised its position in Hanmi Financial by 26.1% in the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after buying an additional 182,164 shares during the last quarter. Bank of Montreal Can acquired a new position in Hanmi Financial during the 2nd quarter worth approximately $2,979,000. Assenagon Asset Management S.A. grew its stake in shares of Hanmi Financial by 66.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock worth $7,352,000 after acquiring an additional 157,792 shares in the last quarter. Finally, Stieven Capital Advisors L.P. lifted its position in shares of Hanmi Financial by 20.6% in the third quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock worth $10,622,000 after purchasing an additional 97,500 shares in the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HAFC. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Wedbush reissued a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. DA Davidson boosted their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price objective (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.38.

Hanmi Financial Price Performance

HAFC traded down $0.01 on Thursday, hitting $24.53. 5,090 shares of the stock were exchanged, compared to its average volume of 188,330. The firm has a market capitalization of $740.78 million, a price-to-earnings ratio of 11.82 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial Co. has a 12 month low of $14.45 and a 12 month high of $27.59. The business has a 50-day moving average of $24.22 and a two-hundred day moving average of $21.66.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. Sell-side analysts forecast that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.40%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s dividend payout ratio (DPR) is currently 48.08%.

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.