Charles Schwab Investment Management Inc. Grows Stock Position in Hanmi Financial Corporation $HAFC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Hanmi Financial Corporation by 4.5%, now owning approximately 1.19% of the company valued at about $8.1 million.
• Hanmi Financial reported earnings of $0.50 per share for the latest quarter, missing estimates by $0.12, with revenue at $65.21 million, slightly below expectations.
• The company declared a quarterly dividend of $0.27, resulting in an annualized yield of 4.3% and a payout ratio of 50.23%.

Charles Schwab Investment Management Inc. boosted its position in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 4.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 358,602 shares of the bank's stock after purchasing an additional 15,499 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.19% of Hanmi Financial worth $8,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Hanmi Financial by 91.4% in the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after purchasing an additional 681 shares during the last quarter. Curat Global LLC acquired a new position in Hanmi Financial in the 1st quarter valued at about $42,000. US Bancorp DE acquired a new position in Hanmi Financial in the 1st quarter valued at about $42,000. Aquatic Capital Management LLC acquired a new position in shares of Hanmi Financial during the 4th quarter valued at about $79,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Hanmi Financial by 6.6% during the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock valued at $201,000 after acquiring an additional 527 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

Wall Street Analyst Weigh In

HAFC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. DA Davidson upped their price objective 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. Finally, Piper Sandler dropped 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 note on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.00.

Hanmi Financial Trading Down 0.5%

HAFC traded down $0.12 on Friday, reaching $25.16. 363,186 shares of the company's stock were exchanged, compared to its average volume of 160,536. The company's 50 day moving average is $24.49 and its 200-day moving average is $23.36. The company has a market cap of $758.07 million, a price-to-earnings ratio of 11.70 and a beta of 0.78. Hanmi Financial Corporation has a twelve month low of $17.90 and a twelve month high of $27.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its 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 business had revenue of $65.21 million for the quarter, compared to analyst estimates of $65.70 million. Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.During the same period last year, the company posted $0.48 EPS. Equities analysts predict that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, August 4th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Monday, August 4th. Hanmi Financial's dividend 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.