Hanmi Financial Corporation $HAFC Position Raised by Charles Schwab Investment Management Inc.

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. raised its stake in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 358,602 shares of the bank's stock after buying an additional 15,499 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.19% of Hanmi Financial worth $8,126,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HAFC. GAMMA Investing LLC lifted its stake in Hanmi Financial by 91.4% in the first quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after buying an additional 681 shares during the last quarter. Curat Global LLC acquired a new position in shares of Hanmi Financial during the first quarter valued at $42,000. US Bancorp DE acquired a new position in shares of Hanmi Financial during the first quarter valued at $42,000. Aquatic Capital Management LLC acquired a new position in shares of Hanmi Financial during the fourth quarter valued at $79,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Hanmi Financial by 6.6% during the fourth quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock valued at $201,000 after purchasing an additional 527 shares during the period. 88.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on HAFC. DA Davidson raised their price target on Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods raised 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, Piper Sandler lowered their price target on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $26.00.

Hanmi Financial Price Performance

NASDAQ:HAFC opened at $24.99 on Tuesday. The business's 50-day moving average price is $24.28 and its 200 day moving average price is $23.33. The firm has a market cap of $752.95 million, a P/E ratio of 11.62 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. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released 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 firm 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 in the previous year, the firm earned $0.48 earnings per share. As a group, sell-side analysts predict that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

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

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.

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