Hanmi Financial Corporation $HAFC Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Hanmi Financial by 10.1% during the first quarter, owning 818,831 shares valued at approximately $18.55 million.
• Hanmi Financial reported $0.50 EPS for the quarter, falling short of analysts' expectations of $0.62, with total revenue of $65.21 million.
• The company declared a $0.27 quarterly dividend, yielding 4.3% annually, with a payout ratio of 50.23%.

American Century Companies Inc. increased its holdings in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 10.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 818,831 shares of the bank's stock after purchasing an additional 75,365 shares during the quarter. American Century Companies Inc. owned 2.71% of Hanmi Financial worth $18,555,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HAFC. GAMMA Investing LLC raised its holdings in Hanmi Financial by 91.4% in the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock worth $32,000 after purchasing an additional 681 shares during the period. Curat Global LLC purchased a new stake in Hanmi Financial during the 1st quarter worth approximately $42,000. US Bancorp DE purchased a new stake in Hanmi Financial during the 1st quarter worth approximately $42,000. Aquatic Capital Management LLC purchased a new stake in Hanmi Financial during the 4th quarter worth approximately $79,000. Finally, Point72 Asset Management L.P. increased its stake in Hanmi Financial by 6.6% during the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock worth $201,000 after buying an additional 527 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

Hanmi Financial Price Performance

HAFC stock opened at $24.95 on Monday. 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 business has a 50 day simple moving average of $24.24 and a 200-day simple moving average of $23.33. The firm has a market capitalization of $751.74 million, a PE ratio of 11.60 and a beta of 0.76. Hanmi Financial Corporation has a 1 year low of $17.90 and a 1 year high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted 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 company had revenue of $65.21 million during the quarter, compared to analysts' expectations 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 last year, the company earned $0.48 earnings per share. Equities research analysts anticipate that Hanmi Financial Corporation will post 2.6 earnings per share 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. The ex-dividend date was Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.3%. Hanmi Financial's dividend payout ratio is 50.23%.

Analyst Upgrades and Downgrades

HAFC has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on Hanmi Financial from $27.00 to $28.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. DA Davidson boosted their price objective on Hanmi Financial from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler cut their price objective on 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.

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