LSV Asset Management Boosts 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 boosted its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 16.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,376,791 shares of the bank's stock after buying an additional 193,610 shares during the period. LSV Asset Management owned approximately 4.56% of Hanmi Financial worth $31,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 681 shares during the last quarter. SG Americas Securities LLC lifted its position 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 buying an additional 480 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hanmi Financial in the fourth quarter worth approximately $3,108,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of 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 buying an additional 3,367 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC traded down $0.15 during midday trading on Thursday, reaching $22.37. 124,856 shares of the company's stock traded hands, compared to its average volume of 184,742. Hanmi Financial Corporation has a one year low of $17.90 and a one year high of $27.59. The stock has a 50 day moving average of $24.12 and a 200 day moving average of $23.33. The company has a market cap of $675.80 million, a price-to-earnings ratio of 10.40 and a beta of 0.76. 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 released its quarterly earnings data 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). The company had revenue of $65.21 million for the quarter, compared to analysts' expectations of $65.70 million. Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. During the same period in the previous year, the firm earned $0.48 earnings per share. As a group, equities research analysts anticipate that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. 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. Piper Sandler cut their price target on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Hanmi Financial from $27.00 to $28.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Hanmi Financial has a consensus rating of "Hold" and an average target price of $26.00.

Hanmi Financial Company 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.