Strs Ohio Invests $505,000 in Hanmi Financial Corporation $HAFC

Key Points

• Strs Ohio acquired 22,300 shares of Hanmi Financial Corporation, valued at approximately $505,000, bringing its total ownership to 0.07% of the company as of the last reporting period.
• A number of hedge funds have increased their stakes in Hanmi Financial, with GAMMA Investing LLC boosting its holdings by 91.4% in the first quarter.
• The company announced a quarterly dividend of $0.27, resulting in an annualized dividend of $1.08 and a yield of 4.3%.

Strs Ohio purchased a new stake in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 22,300 shares of the bank's stock, valued at approximately $505,000. Strs Ohio owned 0.07% of Hanmi Financial as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HAFC. GAMMA Investing LLC lifted its stake in Hanmi Financial by 91.4% in the first quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after buying an additional 681 shares during the period. Quarry LP raised its position in shares of Hanmi Financial by 114.3% during the first quarter. Quarry LP now owns 1,830 shares of the bank's stock worth $41,000 after purchasing an additional 976 shares during the period. Curat Global LLC acquired a new position in shares of Hanmi Financial during the first quarter worth approximately $42,000. US Bancorp DE acquired a new position in shares of Hanmi Financial during the first quarter worth approximately $42,000. Finally, Quantbot Technologies LP raised its position in shares of Hanmi Financial by 151.1% during the first quarter. Quantbot Technologies LP now owns 6,134 shares of the bank's stock worth $139,000 after purchasing an additional 3,691 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HAFC. DA Davidson upped their target price on 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 lowered their target price on Hanmi Financial from $28.50 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods upped their target price 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. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $26.00.

Hanmi Financial Stock Performance

NASDAQ:HAFC traded down $0.11 during trading on Monday, reaching $25.08. The company's stock had a trading volume of 143,916 shares, compared to its average volume of 158,818. The firm has a market cap of $755.66 million, a price-to-earnings ratio of 11.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a 50 day moving average of $24.36 and a 200-day moving average of $23.50. Hanmi Financial Corporation has a 12 month low of $17.92 and a 12 month high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) 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 the consensus estimate of $65.70 million. Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. During the same quarter last year, the company earned $0.48 EPS. Research analysts expect 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 was paid on Wednesday, August 20th. Shareholders of record on Monday, August 4th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, August 4th. Hanmi Financial's dividend 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.