Bridgeway Capital Management LLC Sells 58,680 Shares of Hanmi Financial Corporation $HAFC

Key Points

• Bridgeway Capital Management LLC has decreased its holdings in Hanmi Financial Corporation by 13.3% in the first quarter, now owning 382,082 shares valued at approximately $8.66 million.
• Hanmi Financial's recent earnings report indicated a miss on consensus estimates, with earnings per share of $0.50 versus an expected $0.62, alongside revenue of $65.21 million, slightly below expectations.
• The company declared a quarterly dividend of $0.27 per share, reflecting a dividend yield of 4.3% and a payout ratio of 50.23%.

Bridgeway Capital Management LLC decreased its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 382,082 shares of the bank's stock after selling 58,680 shares during the period. Bridgeway Capital Management LLC owned about 1.26% of Hanmi Financial worth $8,658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Hanmi Financial by 91.4% during the first quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after acquiring an additional 681 shares during the period. Quarry LP grew its holdings in shares of Hanmi Financial by 114.3% during the first 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 position in shares of Hanmi Financial in the first quarter valued at about $42,000. US Bancorp DE bought a new position in shares of Hanmi Financial in the first quarter valued at about $42,000. Finally, Quantbot Technologies LP raised its holdings in shares of Hanmi Financial by 151.1% in the first quarter. Quantbot Technologies LP now owns 6,134 shares of the bank's stock valued at $139,000 after buying an additional 3,691 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Trading Up 0.8%

Shares of HAFC stock traded up $0.20 on Monday, reaching $25.14. 132,742 shares of the stock were exchanged, compared to its average volume of 182,345. The stock has a market cap of $757.47 million, a PE ratio of 11.69 and a beta of 0.78. Hanmi Financial Corporation has a one year low of $17.90 and a one year high of $27.59. 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 stock has a 50 day moving average price of $24.57 and a 200 day moving average price of $23.37.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its 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 firm had revenue of $65.21 million for the quarter, compared to the consensus estimate of $65.70 million. Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.During the same quarter in the previous year, the firm earned $0.48 EPS. Equities research analysts forecast that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.