Balyasny Asset Management L.P. Makes New Investment in Hanmi Financial Co. (NASDAQ:HAFC)

Balyasny Asset Management L.P. purchased a new position in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,072 shares of the bank's stock, valued at approximately $474,000. Balyasny Asset Management L.P. owned about 0.07% of Hanmi Financial at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Amundi increased its position in shares of Hanmi Financial by 213.3% in the 4th quarter. Amundi now owns 15,115 shares of the bank's stock worth $338,000 after purchasing an additional 10,290 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Hanmi Financial by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 489,126 shares of the bank's stock worth $11,553,000 after buying an additional 41,020 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Hanmi Financial in the 4th quarter valued at approximately $364,000. Jump Financial LLC acquired a new stake in shares of Hanmi Financial during the 4th quarter valued at approximately $478,000. Finally, Principal Financial Group Inc. lifted its stake in Hanmi Financial by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 170,942 shares of the bank's stock worth $4,038,000 after purchasing an additional 6,643 shares during the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson restated a "neutral" rating and issued a $27.50 price target on shares of Hanmi Financial in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Hanmi Financial currently has a consensus rating of "Hold" and an average price target of $25.75.

Hanmi Financial Stock Performance

NASDAQ:HAFC traded down $0.11 during mid-day trading on Monday, hitting $23.75. The stock had a trading volume of 107,760 shares, compared to its average volume of 203,432. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a 50 day simple moving average of $22.32 and a 200-day simple moving average of $23.53. The stock has a market capitalization of $717.54 million, a price-to-earnings ratio of 11.59 and a beta of 0.67. Hanmi Financial Co. has a 52 week low of $14.95 and a 52 week high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. The business had revenue of $62.82 million during the quarter, compared to the consensus estimate of $63.45 million. On average, research analysts expect that Hanmi Financial Co. will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Monday, May 5th. Hanmi Financial's dividend payout ratio (DPR) is 50.70%.

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.