Hanmi Financial Corporation $HAFC Position Trimmed by Bridgeway Capital Management LLC

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 reduced its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 13.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 382,082 shares of the bank's stock after selling 58,680 shares during the quarter. Bridgeway Capital Management LLC owned about 1.26% of Hanmi Financial worth $8,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HAFC. EP Wealth Advisors LLC acquired a new stake in shares of Hanmi Financial in the 1st quarter worth approximately $258,000. Cubist Systematic Strategies LLC lifted its position in Hanmi Financial by 11.9% in the first quarter. Cubist Systematic Strategies LLC now owns 55,116 shares of the bank's stock worth $1,249,000 after purchasing an additional 5,848 shares during the period. Royal Bank of Canada boosted its stake in Hanmi Financial by 8.1% during the 1st quarter. Royal Bank of Canada now owns 16,441 shares of the bank's stock valued at $372,000 after purchasing an additional 1,234 shares in the last quarter. Quarry LP increased its position in shares of Hanmi Financial by 114.3% during the 1st quarter. Quarry LP now owns 1,830 shares of the bank's stock valued at $41,000 after purchasing an additional 976 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Hanmi Financial in the 1st quarter worth $323,000. Institutional investors own 88.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. DA Davidson raised their target price on 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 reduced their price objective on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted 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. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.00.

Hanmi Financial Trading Down 1.1%

HAFC stock traded down $0.27 during mid-day trading on Tuesday, reaching $24.88. 28,394 shares of the stock traded hands, compared to its average volume of 181,431. Hanmi Financial Corporation has a 52-week low of $17.90 and a 52-week high of $27.59. The stock's fifty day moving average is $24.58 and its 200-day moving average is $23.38. The company has a market cap of $749.38 million, a P/E ratio of 11.57 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released 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). The firm had revenue of $65.21 million for 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 quarter in the prior year, the firm earned $0.48 EPS. As a group, sell-side analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Announces Dividend

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

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.