Thrivent Financial for Lutherans Purchases 61,928 Shares of Hanmi Financial Corporation $HAFC

Key Points

• Thrivent Financial for Lutherans sharply increased its stake in Hanmi Financial, buying 61,928 shares in the fourth quarter and raising its position by 287.4% to 83,475 shares worth about $2.26 million.
• Hanmi Financial recently reported strong quarterly results, with EPS of $0.75 beating estimates and revenue of $134.95 million well above expectations.
• The company also paid a quarterly dividend of $0.28 per share, equal to a 3.7% annualized yield, while analysts currently rate the stock a consensus Hold with an average price target of $32.17.

Thrivent Financial for Lutherans boosted its position in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) by 287.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,475 shares of the bank's stock after acquiring an additional 61,928 shares during the quarter. Thrivent Financial for Lutherans owned 0.28% of Hanmi Financial worth $2,257,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Unison Advisors LLC increased its stake in Hanmi Financial by 1.1% in the fourth quarter. Unison Advisors LLC now owns 32,259 shares of the bank's stock valued at $872,000 after acquiring an additional 356 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Hanmi Financial by 17.3% in the third quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank's stock valued at $66,000 after acquiring an additional 394 shares during the last quarter. Cerity Partners LLC increased its stake in Hanmi Financial by 1.7% in the second quarter. Cerity Partners LLC now owns 36,771 shares of the bank's stock valued at $908,000 after acquiring an additional 632 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hanmi Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank's stock valued at $405,000 after acquiring an additional 780 shares during the last quarter. Finally, Savant Capital LLC increased its stake in Hanmi Financial by 3.3% in the third quarter. Savant Capital LLC now owns 24,481 shares of the bank's stock valued at $604,000 after acquiring an additional 781 shares during the last quarter. 88.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HAFC has been the topic of a number of recent analyst reports. DA Davidson reissued a "neutral" rating and issued a $29.50 price objective on shares of Hanmi Financial in a research note on Thursday, January 29th. Piper Sandler lifted their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a "market perform" rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $32.17.

Insider Buying and Selling at Hanmi Financial

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the sale, the insider owned 34,002 shares of the company's stock, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 2.12% of the company's stock.

Hanmi Financial Stock Performance

NASDAQ HAFC opened at $30.17 on Tuesday. The firm's fifty day moving average price is $28.12 and its two-hundred day moving average price is $27.68. The stock has a market cap of $898.16 million, a PE ratio of 11.26 and a beta of 0.73. Hanmi Financial Corporation has a fifty-two week low of $21.84 and a fifty-two week high of $31.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98.

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

Hanmi Financial Announces Dividend

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

Hanmi Financial 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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