Invesco Ltd. Buys 42,037 Shares of 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 holdings in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in HAFC. Rhino Investment Partners Inc bought a new stake in shares of Hanmi Financial during the 4th quarter valued at $15,400,000. LSV Asset Management boosted its stake in shares of Hanmi Financial by 16.4% during the 1st quarter. LSV Asset Management now owns 1,376,791 shares of the bank's stock worth $31,198,000 after buying an additional 193,610 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Hanmi Financial during the 4th quarter worth about $3,108,000. Segall Bryant & Hamill LLC bought a new stake in shares of Hanmi Financial in the 1st quarter valued at about $1,826,000. Finally, Stieven Capital Advisors L.P. raised its holdings in shares of Hanmi Financial by 9.2% in the 1st quarter. Stieven Capital Advisors L.P. now owns 608,076 shares of the bank's stock valued at $13,779,000 after purchasing an additional 51,323 shares during the period. Institutional investors and hedge funds own 88.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HAFC shares. DA Davidson increased 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. Piper Sandler cut 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. Finally, Keefe, Bruyette & Woods raised their price target 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 investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.00.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC traded up $0.04 during midday trading on Friday, hitting $25.32. The company's stock had a trading volume of 61,626 shares, compared to its average volume of 180,968. The stock has a fifty day moving average price of $24.44 and a 200 day moving average price of $23.37. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $762.89 million, a price-to-earnings ratio of 11.78 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 results on Tuesday, July 22nd. The bank reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.12). Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.The company had revenue of $65.21 million during the quarter, compared to analysts' expectations of $65.70 million. During the same period in the prior year, the firm earned $0.48 EPS. On average, research analysts forecast that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

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