Hanmi Financial Corporation $HAFC Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Hanmi Financial Corporation by 8,375.5% during Q1, acquiring a total of 45,598 shares valued at approximately $1,033,000.
• Recent analyst reports have resulted in mixed ratings for Hanmi Financial, with Piper Sandler lowering its target price from $28.50 to $28.00, while Keefe, Bruyette & Woods raised it to $28.00.
• Hanmi Financial declared a quarterly dividend of $0.27 per share, yielding an annualized dividend of $1.08, representing a 4.3% dividend yield with a payout ratio of 50.23%.

Russell Investments Group Ltd. lifted its position in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 8,375.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,598 shares of the bank's stock after purchasing an additional 45,060 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of Hanmi Financial worth $1,033,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HAFC. GAMMA Investing LLC raised its stake in shares of Hanmi Financial by 91.4% in the first quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock worth $32,000 after purchasing an additional 681 shares during the last quarter. Curat Global LLC purchased a new position in shares of Hanmi Financial in the first quarter worth about $42,000. US Bancorp DE purchased a new position in shares of Hanmi Financial in the first quarter worth about $42,000. Aquatic Capital Management LLC purchased a new position in shares of Hanmi Financial in the fourth quarter worth about $79,000. Finally, Point72 Asset Management L.P. raised its position in Hanmi Financial by 6.6% during the fourth quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock valued at $201,000 after acquiring an additional 527 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on HAFC shares. Piper Sandler reduced 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. Keefe, Bruyette & Woods lifted their price target on Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Finally, DA Davidson lifted their price target on Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.00.

Hanmi Financial Price Performance

Shares of HAFC traded up $0.03 during trading hours on Wednesday, hitting $24.88. 196,324 shares of the stock were exchanged, compared to its average volume of 152,646. 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 Corporation has a 12-month low of $17.90 and a 12-month high of $27.59. The company has a market cap of $749.63 million, a price-to-earnings ratio of 11.57 and a beta of 0.78. The stock's 50-day moving average price is $24.55 and its two-hundred day moving average price is $23.38.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly 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). Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.The firm had revenue of $65.21 million for the quarter, compared to analysts' expectations of $65.70 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Research analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, August 4th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.08 dividend on an annualized basis and a yield of 4.3%. Hanmi Financial's payout ratio is 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.