Hanmi Financial Corporation $HAFC Holdings Decreased by Rhino Investment Partners Inc

Key Points

• Rhino Investment Partners Inc reduced its stake in Hanmi Financial Corporation by 4.0%, owning 2.07% of the firm valued at approximately $14.2 million after selling 25,805 shares.
• Hanmi Financial recently reported an EPS of $0.50 for the last quarter, missing the expected $0.62, with quarterly revenue of $65.21 million.
• The company declared a quarterly dividend of $0.27, translating to an annualized dividend of $1.08 and a yield of 4.5%.

Rhino Investment Partners Inc lowered its position in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 626,189 shares of the bank's stock after selling 25,805 shares during the quarter. Hanmi Financial comprises about 3.5% of Rhino Investment Partners Inc's portfolio, making the stock its 10th largest position. Rhino Investment Partners Inc owned 2.07% of Hanmi Financial worth $14,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Martingale Asset Management L P purchased a new stake in shares of Hanmi Financial in the first quarter valued at $977,000. Hsbc Holdings PLC raised its stake in shares of Hanmi Financial by 14.5% in the first quarter. Hsbc Holdings PLC now owns 13,520 shares of the bank's stock valued at $306,000 after acquiring an additional 1,709 shares during the period. Quantbot Technologies LP raised its stake in shares of Hanmi Financial by 151.1% in the first quarter. Quantbot Technologies LP now owns 6,134 shares of the bank's stock valued at $139,000 after acquiring an additional 3,691 shares during the period. Algert Global LLC boosted its stake in shares of Hanmi Financial by 2.2% during the first quarter. Algert Global LLC now owns 178,561 shares of the bank's stock valued at $4,046,000 after purchasing an additional 3,770 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Hanmi Financial by 10.1% during the first quarter. American Century Companies Inc. now owns 818,831 shares of the bank's stock valued at $18,555,000 after purchasing an additional 75,365 shares during the period. Hedge funds and other institutional investors own 88.66% of the company's stock.

Hanmi Financial Stock Up 0.2%

Shares of HAFC stock traded up $0.04 on Monday, hitting $24.99. The stock had a trading volume of 113,750 shares, compared to its average volume of 182,328. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $24.24 and a 200 day moving average price of $23.33. The company has a market cap of $752.95 million, a PE ratio of 11.62 and a beta of 0.76. Hanmi Financial Corporation has a one year low of $17.90 and a one year high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.12). The firm had revenue of $65.21 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.48 earnings per share. Research analysts anticipate that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on HAFC shares. DA Davidson boosted their target price 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. Piper Sandler lowered their target price 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. Finally, Keefe, Bruyette & Woods boosted their target price 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. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Hanmi Financial currently has an average rating of "Hold" and an average target price of $26.00.

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.