Public Sector Pension Investment Board Raises Stock Position in Hanmi Financial Corporation $HAFC

Key Points

• The Public Sector Pension Investment Board increased its stake in Hanmi Financial by 83.6%, owning approximately 0.45% of the company, valued at over $3 million.
• Hanmi Financial reported a net margin of 15.11% and a return on equity of 8.77% for the last quarter, with earnings per share coming in below expectations.
• The company has declared a quarterly dividend of $0.27 per share, yielding 4.5%, with the payout ratio at 50.23%.

Public Sector Pension Investment Board grew its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 83.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,210 shares of the bank's stock after buying an additional 62,459 shares during the quarter. Public Sector Pension Investment Board owned 0.45% of Hanmi Financial worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of Hanmi Financial by 1.9% during the 1st quarter. SG Americas Securities LLC now owns 25,406 shares of the bank's stock valued at $576,000 after buying an additional 480 shares during the period. Point72 Asset Management L.P. lifted its holdings 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 buying an additional 527 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of Hanmi Financial by 0.9% during the 4th quarter. Cresset Asset Management LLC now owns 56,990 shares of the bank's stock valued at $1,346,000 after buying an additional 535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hanmi Financial by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,112 shares of the bank's stock valued at $404,000 after buying an additional 547 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of Hanmi Financial by 1.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 47,211 shares of the bank's stock valued at $1,070,000 after buying an additional 599 shares during the period. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Stock Performance

Hanmi Financial stock traded up $1.32 during trading on Friday, reaching $24.95. The company had a trading volume of 224,529 shares, compared to its average volume of 168,310. Hanmi Financial Corporation has a 52 week low of $17.90 and a 52 week high of $27.59. The firm's 50-day simple moving average is $24.24 and its 200 day simple moving average is $23.33. The firm has a market capitalization of $751.74 million, a price-to-earnings ratio of 11.60 and a beta of 0.76. 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 announced its earnings results on Tuesday, July 22nd. The bank reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.12). Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.The company had revenue of $65.21 million during the quarter, compared to the consensus estimate of $65.70 million. During the same period in the prior year, the business posted $0.48 earnings per share. Sell-side analysts forecast that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HAFC. DA Davidson increased 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. 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. Finally, Keefe, Bruyette & Woods increased 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. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $26.00.

Hanmi Financial Company 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.