Rhino Investment Partners Inc Sells 25,805 Shares of Hanmi Financial Corporation $HAFC

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 cut its holdings in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 626,189 shares of the bank's stock after selling 25,805 shares during the quarter. Hanmi Financial comprises 3.5% of Rhino Investment Partners Inc's holdings, making the stock its 10th largest position. Rhino Investment Partners Inc owned 2.07% of Hanmi Financial worth $14,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HAFC. LPL Financial LLC raised its stake in Hanmi Financial by 22.0% in the fourth quarter. LPL Financial LLC now owns 21,347 shares of the bank's stock valued at $504,000 after buying an additional 3,853 shares during the last quarter. Wells Fargo & Company MN raised its stake in Hanmi Financial by 22.0% in the fourth quarter. Wells Fargo & Company MN now owns 22,386 shares of the bank's stock valued at $529,000 after buying an additional 4,038 shares during the last quarter. Invesco Ltd. raised its stake in Hanmi Financial by 106.8% in the fourth quarter. Invesco Ltd. now owns 403,586 shares of the bank's stock valued at $9,533,000 after buying an additional 208,463 shares during the last quarter. Legal & General Group Plc raised its stake in Hanmi Financial by 1.2% in the fourth quarter. Legal & General Group Plc now owns 80,571 shares of the bank's stock valued at $1,903,000 after buying an additional 994 shares during the last quarter. Finally, Mariner LLC purchased a new stake in Hanmi Financial in the fourth quarter valued at about $324,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HAFC has been the topic of a number of research reports. Piper Sandler cut their price objective on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price objective 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, DA Davidson increased their price objective on Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $26.00.

Hanmi Financial Stock Performance

Hanmi Financial stock traded up $0.36 during midday trading on Tuesday, hitting $25.35. 50,571 shares of the company were exchanged, compared to its average volume of 181,498. The firm has a market capitalization of $763.74 million, a PE ratio of 11.78 and a beta of 0.76. Hanmi Financial Corporation has a fifty-two week low of $17.90 and a fifty-two week high of $27.59. The business has a fifty day simple moving average of $24.28 and a two-hundred day simple moving average of $23.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.12). The company 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 last year, the business earned $0.48 earnings per share. On average, sell-side analysts forecast that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

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

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.