LSV Asset Management Increases Position in Hanmi Financial Corporation (NASDAQ:HAFC)

Key Points

• LSV Asset Management increased its holdings in Hanmi Financial Corporation by 16.4% during the first quarter, now owning 1,376,791 shares valued at approximately $31.2 million.
• Hanmi Financial reported Q2 earnings of $0.50 per share, missing analysts' expectations, with a revenue of $65.21 million compared to expected $65.70 million.
• The company declared a quarterly dividend of $0.27 per share, which translates to an annualized dividend of $1.08 and a yield of 4.8%.

LSV Asset Management lifted its holdings in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 16.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,376,791 shares of the bank's stock after purchasing an additional 193,610 shares during the quarter. LSV Asset Management owned about 4.56% of Hanmi Financial worth $31,198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. US Bancorp DE acquired a new stake in shares of Hanmi Financial in the 1st quarter worth $42,000. De Lisle Partners LLP boosted its position in shares of Hanmi Financial by 39.1% in the 1st quarter. De Lisle Partners LLP now owns 71,703 shares of the bank's stock worth $1,626,000 after purchasing an additional 20,170 shares in the last quarter. one8zero8 LLC boosted its position in shares of Hanmi Financial by 13.0% in the 1st quarter. one8zero8 LLC now owns 19,325 shares of the bank's stock worth $438,000 after purchasing an additional 2,225 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Hanmi Financial by 109.2% in the 1st quarter. Allianz Asset Management GmbH now owns 33,889 shares of the bank's stock worth $768,000 after purchasing an additional 17,689 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Hanmi Financial during the 1st quarter worth about $1,826,000. Institutional investors and hedge funds own 88.66% of the company's stock.

Hanmi Financial Stock Performance

NASDAQ HAFC opened at $22.43 on Monday. The stock has a 50-day simple moving average of $24.15 and a two-hundred day simple moving average of $23.35. The firm has a market capitalization of $677.61 million, a P/E ratio of 10.43 and a beta of 0.76. Hanmi Financial Corporation has a fifty-two week low of $17.37 and a fifty-two week high of $27.59. 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 announced its quarterly earnings results 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). Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. The business had revenue of $65.21 million during the quarter, compared to analysts' expectations of $65.70 million. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, equities analysts forecast that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, August 4th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 4th. Hanmi Financial's payout ratio is currently 50.23%.

Wall Street Analysts Forecast Growth

HAFC has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on Hanmi Financial from $27.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. DA Davidson lifted their price target on Hanmi Financial from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler lowered their price target on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $26.00.

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.

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