Allianz Asset Management GmbH Buys 17,689 Shares of Hanmi Financial Corporation (NASDAQ:HAFC)

Key Points

• Allianz Asset Management GmbH increased its stake in Hanmi Financial Corporation by 109.2% during Q1, acquiring an additional 17,689 shares, bringing its total ownership to 33,889 shares valued at approximately $768,000.
• Hanmi Financial announced a quarterly dividend of $0.27, with an annualized dividend yield of 4.8%, set to be paid on August 20th.
• The bank reported $0.50 EPS for the last quarter, missing the analysts' consensus estimate of $0.62 EPS, alongside a revenue of $65.21 million.

Allianz Asset Management GmbH increased its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 109.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,889 shares of the bank's stock after acquiring an additional 17,689 shares during the period. Allianz Asset Management GmbH owned about 0.11% of Hanmi Financial worth $768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAFC. GAMMA Investing LLC lifted its holdings in Hanmi Financial by 91.4% during the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock worth $32,000 after buying an additional 681 shares during the period. Curat Global LLC acquired a new position in Hanmi Financial during the 1st quarter worth about $42,000. Aquatic Capital Management LLC acquired a new position in Hanmi Financial during the 4th quarter worth about $79,000. KLP Kapitalforvaltning AS acquired a new position in Hanmi Financial during the 4th quarter worth about $132,000. Finally, Point72 Asset Management L.P. lifted its holdings in 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 buying an additional 527 shares during the period. Institutional investors own 88.66% of the company's stock.

Hanmi Financial Trading Down 1.7%

Shares of NASDAQ:HAFC traded down $0.38 during midday trading on Friday, reaching $22.43. The company's stock had a trading volume of 300,409 shares, compared to its average volume of 183,921. The firm has a market capitalization of $677.61 million, a price-to-earnings ratio of 10.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a 50 day moving average price of $24.15 and a two-hundred day moving average price of $23.34. Hanmi Financial Corporation has a fifty-two week low of $17.37 and a fifty-two week high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $65.21 million during the quarter, compared to analyst estimates of $65.70 million. Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, analysts forecast that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, August 4th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, August 4th. Hanmi Financial's dividend payout ratio is 50.23%.

Analyst Ratings Changes

Several brokerages have commented on HAFC. DA Davidson lifted their target price on Hanmi Financial from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler dropped their price objective on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Hanmi Financial has a consensus rating of "Hold" and an average price target of $26.00.

About Hanmi Financial

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.