EP Wealth Advisors LLC Buys New Shares in Hanmi Financial Corporation $HAFC

Key Points

• EP Wealth Advisors LLC purchased a new stake in Hanmi Financial Corporation, acquiring 11,378 shares valued at approximately $258,000 in the first quarter.
• Analysts have raised price targets for Hanmi Financial, with Keefe, Bruyette & Woods increasing theirs to $28.00, though the consensus rating remains as "Hold."
• Hanmi Financial recently announced a quarterly dividend of $0.27 per share, representing an annual yield of 4.3% and a dividend payout ratio of 50.23%.

EP Wealth Advisors LLC bought a new position in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,378 shares of the bank's stock, valued at approximately $258,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Hanmi Financial by 91.4% in the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock worth $32,000 after purchasing an additional 681 shares during the last quarter. Quarry LP increased its position in shares of Hanmi Financial by 114.3% in the 1st quarter. Quarry LP now owns 1,830 shares of the bank's stock worth $41,000 after purchasing an additional 976 shares during the last quarter. Curat Global LLC bought a new stake in shares of Hanmi Financial in the 1st quarter worth about $42,000. US Bancorp DE bought a new stake in shares of Hanmi Financial in the 1st quarter worth about $42,000. Finally, Quantbot Technologies LP increased its position in shares of Hanmi Financial by 151.1% in the 1st quarter. Quantbot Technologies LP now owns 6,134 shares of the bank's stock worth $139,000 after purchasing an additional 3,691 shares during the last quarter. Institutional investors own 88.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HAFC. DA Davidson boosted their price objective on shares of Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler lowered their price objective on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.00.

Hanmi Financial Stock Performance

NASDAQ HAFC traded down $0.27 on Friday, hitting $24.84. The stock had a trading volume of 98,790 shares, compared to its average volume of 149,347. Hanmi Financial Corporation has a one year low of $17.92 and a one year high of $27.59. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $748.43 million, a price-to-earnings ratio of 11.55 and a beta of 0.78. The company's 50-day moving average is $24.49 and its two-hundred day moving average is $23.42.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.12). The company had revenue of $65.21 million during the quarter, compared to analyst estimates of $65.70 million. Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.During the same period in the prior year, the company posted $0.48 earnings per share. On average, analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, August 4th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, August 4th. Hanmi Financial's dividend payout ratio is currently 50.23%.

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.