Hanmi Financial Corporation $HAFC Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in Hanmi Financial by 2.1% in the fourth quarter, buying 45,511 more shares and lifting its holdings to 2.2 million shares, or about 7.35% of the company.
• Hanmi Financial reported better-than-expected quarterly earnings of $0.75 per share, beating estimates, and also topped revenue expectations with $134.95 million for the quarter.
• The bank declared a quarterly dividend of $0.28 per share, implying an annualized yield of about 3.9%, while analysts currently rate the stock a consensus Hold with a $32.17 price target.

Vanguard Group Inc. grew its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,201,736 shares of the bank's stock after purchasing an additional 45,511 shares during the quarter. Vanguard Group Inc. owned approximately 7.35% of Hanmi Financial worth $59,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in Hanmi Financial by 7.0% during the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank's stock worth $23,033,000 after purchasing an additional 60,876 shares in the last quarter. Rhino Investment Partners Inc raised its holdings in Hanmi Financial by 27.1% during the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank's stock worth $19,400,000 after purchasing an additional 167,485 shares in the last quarter. Stieven Capital Advisors L.P. raised its holdings in Hanmi Financial by 4.3% during the third quarter. Stieven Capital Advisors L.P. now owns 634,676 shares of the bank's stock worth $15,670,000 after purchasing an additional 25,900 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Hanmi Financial by 2.1% during the second quarter. Ameriprise Financial Inc. now owns 328,392 shares of the bank's stock worth $8,105,000 after purchasing an additional 6,835 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of Hanmi Financial by 3.0% during the third quarter. Public Sector Pension Investment Board now owns 146,156 shares of the bank's stock worth $3,609,000 after acquiring an additional 4,195 shares during the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

Insiders Place Their Bets

In related news, insider Matthew Fuhr sold 3,300 shares of Hanmi Financial stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total value of $101,739.00. Following the transaction, the insider directly owned 34,002 shares in the company, valued at $1,048,281.66. This trade represents a 8.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.12% of the stock is currently owned by company insiders.

Hanmi Financial Stock Performance

Shares of HAFC opened at $29.09 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $865.89 million, a PE ratio of 10.85 and a beta of 0.73. The company's 50 day simple moving average is $27.60 and its 200-day simple moving average is $27.55. Hanmi Financial Corporation has a 12-month low of $21.84 and a 12-month high of $31.33.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. The business had revenue of $134.95 million for the quarter, compared to analyst estimates of $71.40 million. As a group, equities analysts predict that Hanmi Financial Corporation will post 3.16 EPS for the current year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Monday, May 4th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, May 4th. Hanmi Financial's dividend payout ratio (DPR) is 41.79%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Hanmi Financial from a "buy" rating to a "hold" rating in a research report on Saturday, January 24th. Piper Sandler raised their target price on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods raised their target price on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a "market perform" rating in a research report on Thursday, April 9th. Finally, DA Davidson restated a "neutral" rating and set a $29.50 target price on shares of Hanmi Financial in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Hanmi Financial has an average rating of "Hold" and a consensus price target of $32.17.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.

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