Nuveen LLC Makes New Investment in Hanmi Financial Corporation $HAFC

Key Points

• Nuveen LLC has made a new investment of approximately $2.93 million in Hanmi Financial Corporation, acquiring 129,104 shares, which contributes to its total ownership of about 0.43% in the bank.
• Hanmi Financial reported $0.50 earnings per share in its recent quarterly earnings, missing the consensus estimate of $0.62, and had a revenue of $65.21 million against an expected $65.70 million.
• The bank recently announced a quarterly dividend of $0.27 per share, yielding about 4.3%, with a payout ratio of 50.23%.

Nuveen LLC acquired a new position in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 129,104 shares of the bank's stock, valued at approximately $2,925,000. Nuveen LLC owned 0.43% of Hanmi Financial at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in Hanmi Financial by 10.4% during the first quarter. Invesco Ltd. now owns 445,623 shares of the bank's stock valued at $10,098,000 after purchasing an additional 42,037 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Hanmi Financial by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 358,602 shares of the bank's stock worth $8,126,000 after acquiring an additional 15,499 shares during the period. LSV Asset Management boosted its stake in shares of Hanmi Financial by 16.4% in the first quarter. LSV Asset Management now owns 1,376,791 shares of the bank's stock worth $31,198,000 after acquiring an additional 193,610 shares during the period. US Bancorp DE bought a new position in shares of Hanmi Financial in the first quarter worth about $42,000. Finally, De Lisle Partners LLP boosted its stake in shares of Hanmi Financial by 39.1% in the first quarter. De Lisle Partners LLP now owns 71,703 shares of the bank's stock worth $1,626,000 after acquiring an additional 20,170 shares during the period. Institutional investors own 88.66% of the company's stock.

Hanmi Financial Stock Down 0.5%

Shares of Hanmi Financial stock traded down $0.12 during trading on Friday, reaching $25.16. The company's stock had a trading volume of 363,186 shares, compared to its average volume of 160,536. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The company has a market cap of $758.07 million, a price-to-earnings ratio of 11.70 and a beta of 0.78. Hanmi Financial Corporation has a 1-year low of $17.90 and a 1-year high of $27.59. The company has a 50-day simple moving average of $24.49 and a two-hundred day simple moving average of $23.36.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 business earned $0.48 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, August 4th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.3%. Hanmi Financial's dividend payout ratio (DPR) is presently 50.23%.

Analyst Upgrades and Downgrades

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