EP Wealth Advisors LLC Takes Position 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 shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,378 shares of the bank's stock, valued at approximately $258,000.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Hanmi Financial by 1.9% during the 1st quarter. SG Americas Securities LLC now owns 25,406 shares of the bank's stock worth $576,000 after acquiring an additional 480 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Hanmi Financial by 6.6% during the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock worth $201,000 after acquiring an additional 527 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Hanmi Financial by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,112 shares of the bank's stock worth $404,000 after acquiring an additional 547 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Hanmi Financial by 1.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 47,211 shares of the bank's stock worth $1,070,000 after acquiring an additional 599 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in shares of Hanmi Financial by 5.1% during the 1st quarter. Pallas Capital Advisors LLC now owns 12,453 shares of the bank's stock worth $282,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on HAFC shares. DA Davidson boosted their price objective on shares of Hanmi Financial from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note 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 stock a "market perform" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler dropped their target price on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $26.00.

Hanmi Financial Stock Performance

NASDAQ HAFC traded up $0.04 during mid-day trading on Monday, reaching $24.88. 130,618 shares of the stock were exchanged, compared to its average volume of 140,951. The business's 50 day moving average is $24.46 and its 200-day moving average is $23.43. Hanmi Financial Corporation has a 1 year low of $17.92 and a 1 year high of $27.59. The company has a market capitalization of $749.63 million, a P/E ratio of 11.57 and a beta of 0.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98.

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

Hanmi Financial Dividend Announcement

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

Hanmi Financial Company 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.