Jacobs Levy Equity Management Inc. Buys 10,162 Shares of Hanmi Financial Corporation $HAFC

Key Points

• Jacobs Levy Equity Management Inc. increased its shares in Hanmi Financial Corporation by 5.8%, now holding 186,516 shares worth approximately $4.2 million.
• Several institutional investors have also increased their stakes, with GAMMA Investing LLC raising its holdings by 91.4%, while Quarry LP and Quantbot Technologies LP increased theirs by 114.3% and 151.1%, respectively.
• Hanmi Financial reported a quarterly earnings miss with earnings per share of $0.50, below the $0.62 consensus estimate, and declared a quarterly dividend of $0.27, resulting in an annualized dividend yield of 4.3%.

Jacobs Levy Equity Management Inc. increased its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,516 shares of the bank's stock after buying an additional 10,162 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.62% of Hanmi Financial worth $4,226,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HAFC. GAMMA Investing LLC grew its position in Hanmi Financial by 91.4% during the first quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock worth $32,000 after buying an additional 681 shares in the last quarter. Quarry LP boosted its holdings in Hanmi Financial by 114.3% during the first quarter. Quarry LP now owns 1,830 shares of the bank's stock valued at $41,000 after purchasing an additional 976 shares in the last quarter. Curat Global LLC acquired a new stake in Hanmi Financial during the first quarter valued at approximately $42,000. US Bancorp DE acquired a new stake in Hanmi Financial during the first quarter valued at approximately $42,000. Finally, Quantbot Technologies LP boosted its holdings in Hanmi Financial by 151.1% during the first quarter. Quantbot Technologies LP now owns 6,134 shares of the bank's stock valued at $139,000 after purchasing an additional 3,691 shares in the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

Hanmi Financial Price Performance

Shares of HAFC traded down $0.27 on Friday, hitting $24.84. The company's stock had a trading volume of 98,790 shares, compared to its average volume of 140,951. The company has a market capitalization of $748.33 million, a PE ratio of 11.55 and a beta of 0.78. 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 Corporation has a fifty-two week low of $17.92 and a fifty-two week high of $27.59. The company has a 50 day moving average price of $24.49 and a 200 day moving average price of $23.42.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced 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 business had revenue of $65.21 million during 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 in the previous year, the firm earned $0.48 earnings per share. On average, research analysts anticipate that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, August 4th were issued a $0.27 dividend. 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 payout ratio is presently 50.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler decreased 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 lifted 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 lifted 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.