Stieven Capital Advisors L.P. Has $12.80 Million Stake in Hanmi Financial Corporation $HAFC

Key Points

• Stieven Capital Advisors cut its Hanmi Financial stake by 25.4% in the fourth quarter, but still held 473,519 shares worth about $12.8 million. The position remains one of the fund’s larger holdings.
• Hanmi Financial reported better-than-expected quarterly results, with EPS of $0.75 versus the $0.71 consensus and revenue of $134.95 million. Analysts still expect full-year EPS of 3.16.
• The bank declared a quarterly dividend of $0.28 per share, equal to a 3.7% annualized yield. Meanwhile, Wall Street’s overall view remains Hold, with a consensus price target of $32.17.

Stieven Capital Advisors L.P. decreased its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 473,519 shares of the bank's stock after selling 161,157 shares during the period. Hanmi Financial accounts for about 2.4% of Stieven Capital Advisors L.P.'s holdings, making the stock its 17th largest position. Stieven Capital Advisors L.P. owned about 1.58% of Hanmi Financial worth $12,799,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. AlphaQuest LLC increased its holdings in Hanmi Financial by 201.7% during the 3rd quarter. AlphaQuest LLC now owns 1,792 shares of the bank's stock valued at $44,000 after purchasing an additional 1,198 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank's stock valued at $56,000 after purchasing an additional 1,764 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Hanmi Financial by 148.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank's stock valued at $60,000 after purchasing an additional 1,442 shares in the last quarter. Quantbot Technologies LP increased its holdings in Hanmi Financial by 397.2% during the 3rd quarter. Quantbot Technologies LP now owns 8,597 shares of the bank's stock valued at $212,000 after purchasing an additional 6,868 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in Hanmi Financial during the 3rd quarter valued at $227,000. Institutional investors and hedge funds own 88.66% of the company's stock.

Hanmi Financial Stock Down 0.5%

NASDAQ:HAFC opened at $30.17 on Friday. Hanmi Financial Corporation has a 12-month low of $21.84 and a 12-month high of $31.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $898.16 million, a P/E ratio of 11.26 and a beta of 0.73. The stock's fifty day simple moving average is $28.03 and its 200-day simple moving average is $27.65.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The business had revenue of $134.95 million for the quarter, compared to analyst estimates of $71.40 million. Equities research analysts expect that Hanmi Financial Corporation will post 3.16 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 4th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, May 4th. This represents a $1.12 annualized dividend and a yield of 3.7%. Hanmi Financial's payout ratio is currently 41.79%.

Wall Street Analysts Forecast Growth

HAFC has been the subject of a number of recent analyst reports. Wall Street Zen cut Hanmi Financial from a "buy" rating to a "hold" rating in a report on Saturday, January 24th. Keefe, Bruyette & Woods lifted their target price on Hanmi Financial from $31.50 to $32.00 and gave the company a "market perform" rating in a research note on Thursday, April 9th. Piper Sandler lifted their target price on Hanmi Financial from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Finally, DA Davidson reissued a "neutral" rating and issued a $29.50 target price on shares of Hanmi Financial in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $32.17.

Insiders Place Their Bets

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of Hanmi Financial stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the transaction, the insider directly owned 34,002 shares in the company, valued at approximately $1,048,281.66. The trade was a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.12% of the company's stock.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.

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