Invesco Ltd. Increases Stake in Hanmi Financial Corporation $HAFC

Key Points

• Invesco Ltd. increased its stake in Hanmi Financial Corporation by 10.4%, owning approximately 1.47% of the company, valued at around $10 million as of its latest SEC filing.
• Hanmi Financial's quarterly earnings report showed an EPS of $0.50, falling short of analyst expectations of $0.62, while revenue was reported at $65.21 million.
• The company announced a quarterly dividend of $0.27, yielding 4.3% with a dividend payout ratio of 50.23%.

Invesco Ltd. grew its stake in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 10.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 445,623 shares of the bank's stock after purchasing an additional 42,037 shares during the quarter. Invesco Ltd. owned about 1.47% of Hanmi Financial worth $10,098,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 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 in the last quarter. SG Americas Securities LLC raised its holdings in Hanmi Financial by 1.9% in the 1st quarter. SG Americas Securities LLC now owns 25,406 shares of the bank's stock worth $576,000 after purchasing an additional 480 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Hanmi Financial by 56.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,112 shares of the bank's stock worth $566,000 after purchasing an additional 9,091 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hanmi Financial in the 4th quarter worth $3,108,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Hanmi Financial by 17.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,154 shares of the bank's stock worth $523,000 after purchasing an additional 3,367 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of Hanmi Financial from $27.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Finally, DA Davidson upped their target price on shares of Hanmi Financial from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Hanmi Financial presently has a consensus rating of "Hold" and an average price target of $26.00.

Hanmi Financial Stock Down 0.5%

HAFC stock traded down $0.12 during trading on Friday, hitting $25.16. 363,186 shares of the stock traded hands, compared to its average volume of 157,398. Hanmi Financial Corporation has a 1 year low of $17.90 and a 1 year high of $27.59. The firm's 50 day moving average is $24.49 and its two-hundred day moving average is $23.36. The stock has a market cap of $758.07 million, a price-to-earnings ratio of 11.70 and a beta of 0.76. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.12). Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. The firm had revenue of $65.21 million for the quarter, compared to analysts' expectations of $65.70 million. During the same period last year, the company posted $0.48 earnings per share. On average, sell-side analysts anticipate that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, August 4th were given 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 is 50.23%.

Hanmi Financial 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.