Assenagon Asset Management S.A. Purchases Shares of 37,132 Hanmi Financial Corporation $HAFC

Key Points

• Assenagon Asset Management purchased 37,132 shares of Hanmi Financial, valued at approximately $1.2 million, while institutional investors collectively own 88.66% of the company.
• Hanmi Financial reported quarterly earnings of $0.79 per share, beating estimates of $0.77, though revenue of $72.21 million fell short of the $74.03 million consensus forecast.
• The bank declared a quarterly dividend of $0.28 per share, representing a $1.12 annualized payout and a 3.5% yield; analysts maintain a consensus “Hold” rating with a $33 price target.

Assenagon Asset Management S.A. bought a new stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 37,132 shares of the bank's stock, valued at approximately $1,203,000. Assenagon Asset Management S.A. owned about 0.12% of Hanmi Financial as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. grew its holdings in shares of Hanmi Financial by 35,033.3% during the first quarter. Assetmark Inc. now owns 1,054 shares of the bank's stock worth $28,000 after buying an additional 1,051 shares in the last quarter. Royal Bank of Canada grew its position in shares of Hanmi Financial by 30.5% in the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank's stock valued at $51,000 after purchasing an additional 439 shares during the period. EverSource Wealth Advisors LLC increased its stake in Hanmi Financial by 343.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank's stock valued at $56,000 after purchasing an additional 1,764 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Hanmi Financial by 148.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank's stock valued at $60,000 after purchasing an additional 1,442 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Hanmi Financial by 22.5% during the second quarter. GAMMA Investing LLC now owns 2,487 shares of the bank's stock worth $81,000 after buying an additional 456 shares during the period. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Stock Down 0.2%

Shares of NASDAQ:HAFC opened at $32.44 on Friday. Hanmi Financial Corporation has a 12-month low of $22.85 and a 12-month high of $33.50. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a market cap of $961.85 million, a PE ratio of 10.92 and a beta of 0.73. The company has a fifty day simple moving average of $31.95 and a 200 day simple moving average of $29.27.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. The company had revenue of $72.21 million during the quarter, compared to analyst estimates of $74.03 million. On average, equities research analysts anticipate that Hanmi Financial Corporation will post 3.18 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd will be given a $0.28 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. Hanmi Financial's dividend payout ratio (DPR) is presently 37.71%.

Insider Buying and Selling at Hanmi Financial

In related news, insider Anthony I. Kim sold 5,333 shares of the company's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $30.73, for a total transaction of $163,883.09. Following the sale, the insider directly owned 41,615 shares of the company's stock, valued at approximately $1,278,828.95. This represents a 11.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.12% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HAFC. DA Davidson raised their price target on Hanmi Financial from $31.50 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Hanmi Financial in a research report on Wednesday, June 24th. Brean Capital reaffirmed a "neutral" rating and set a $32.00 price target on shares of Hanmi Financial in a research report on Thursday, May 28th. Capital One Financial set a $32.00 price target on shares of Hanmi Financial in a report on Thursday, May 28th. Finally, Piper Sandler upped their price objective on Hanmi Financial from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $33.00.

About Hanmi Financial

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.

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