Hanmi Financial Corporation (NASDAQ:HAFC) Shares Purchased by Allianz Asset Management GmbH

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 grew its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 109.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,889 shares of the bank's stock after purchasing an additional 17,689 shares during the quarter. 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new position in shares of Hanmi Financial in the fourth quarter valued at approximately $132,000. LPL Financial LLC raised its stake in Hanmi Financial by 22.0% in the fourth quarter. LPL Financial LLC now owns 21,347 shares of the bank's stock valued at $504,000 after purchasing an additional 3,853 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Hanmi Financial by 5.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 99,466 shares of the bank's stock valued at $2,349,000 after purchasing an additional 4,937 shares in the last quarter. Trexquant Investment LP raised its stake in Hanmi Financial by 0.9% in the fourth quarter. Trexquant Investment LP now owns 130,368 shares of the bank's stock valued at $3,079,000 after purchasing an additional 1,151 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Hanmi Financial by 22.0% in the fourth quarter. Wells Fargo & Company MN now owns 22,386 shares of the bank's stock valued at $529,000 after purchasing an additional 4,038 shares in the last quarter. Institutional investors own 88.66% of the company's stock.

Hanmi Financial Trading Up 0.2%

Hanmi Financial stock traded up $0.06 during mid-day trading on Wednesday, reaching $22.57. 48,727 shares of the company traded hands, compared to its average volume of 184,823. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97. The firm's 50 day moving average price is $24.13 and its 200 day moving average price is $23.34. The firm has a market capitalization of $681.69 million, a price-to-earnings ratio of 10.51 and a beta of 0.76. Hanmi Financial Corporation has a 52-week low of $17.90 and a 52-week high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued 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 company had revenue of $65.21 million for the quarter, compared to analysts' expectations 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 previous year, the firm posted $0.48 earnings per share. On average, analysts anticipate that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

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

Wall Street Analyst Weigh In

HAFC has been the topic of a number of recent analyst reports. DA Davidson raised their target price on shares of Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Piper Sandler decreased their price target on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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.