Boston Advisors LLC cut its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,070 shares of the bank’s stock after selling 8,470 shares during the period. Boston Advisors LLC owned 0.42% of Hanmi Financial Corporation worth $3,843,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new stake in shares of Hanmi Financial Corporation during the first quarter worth about $339,000. Wells Fargo & Company MN increased its stake in shares of Hanmi Financial Corporation by 0.7% in the first quarter. Wells Fargo & Company MN now owns 208,259 shares of the bank’s stock worth $6,404,000 after buying an additional 1,550 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Hanmi Financial Corporation by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the bank’s stock worth $406,000 after buying an additional 200 shares during the period. USA Financial Portformulas Corp acquired a new stake in shares of Hanmi Financial Corporation during the fourth quarter worth about $295,000. Finally, Teachers Advisors LLC increased its stake in shares of Hanmi Financial Corporation by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 56,707 shares of the bank’s stock worth $1,979,000 after buying an additional 1,552 shares during the period. Hedge funds and other institutional investors own 87.14% of the company’s stock.
Hanmi Financial Corporation (HAFC) opened at 26.65 on Friday. Hanmi Financial Corporation has a 12 month low of $22.76 and a 12 month high of $35.85. The firm has a market cap of $855.12 million, a PE ratio of 15.49 and a beta of 0.79. The company has a 50-day moving average price of $28.28 and a 200 day moving average price of $29.61.
Hanmi Financial Corporation (NASDAQ:HAFC) last issued its earnings results on Tuesday, July 18th. The bank reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. Hanmi Financial Corporation had a net margin of 24.79% and a return on equity of 10.41%. The firm had revenue of $52.88 million for the quarter, compared to analysts’ expectations of $50.85 million. During the same quarter last year, the company posted $0.44 earnings per share. Equities research analysts anticipate that Hanmi Financial Corporation will post $1.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Friday, July 28th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $0.84 dividend on an annualized basis and a yield of 3.15%. This is a boost from Hanmi Financial Corporation’s previous quarterly dividend of $0.19. Hanmi Financial Corporation’s dividend payout ratio (DPR) is currently 48.28%.
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A number of analysts have issued reports on HAFC shares. Zacks Investment Research downgraded Hanmi Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 target price on shares of Hanmi Financial Corporation in a research report on Wednesday, July 12th. Finally, BidaskClub cut Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $32.00.
About Hanmi Financial Corporation
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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