Walleye Capital LLC Buys Shares of 14,260 Hanmi Financial Corporation $HAFC

Key Points

• Walleye Capital LLC has invested approximately $323,000 in Hanmi Financial Corporation by acquiring 14,260 shares during the first quarter.
• Hanmi Financial recently reported $0.50 earnings per share for the last quarter, which fell short of analysts' expectations of $0.62.
• The company has declared a quarterly dividend of $0.27, representing an annualized yield of 4.3% with a payout ratio of 50.23%.

Walleye Capital LLC bought a new stake in Hanmi Financial Corporation (NASDAQ:HAFC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,260 shares of the bank's stock, valued at approximately $323,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Hanmi Financial by 91.4% in the 1st quarter. GAMMA Investing LLC now owns 1,426 shares of the bank's stock valued at $32,000 after acquiring an additional 681 shares during the last quarter. Curat Global LLC bought a new position in Hanmi Financial during the 1st quarter valued at approximately $42,000. US Bancorp DE bought a new position in Hanmi Financial during the 1st quarter valued at approximately $42,000. Quantbot Technologies LP raised its position in Hanmi Financial by 151.1% during the 1st quarter. Quantbot Technologies LP now owns 6,134 shares of the bank's stock valued at $139,000 after purchasing an additional 3,691 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Hanmi Financial by 6.6% during the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock valued at $201,000 after purchasing an additional 527 shares during the last quarter. Institutional investors own 88.66% of the company's stock.

Hanmi Financial Stock Down 0.6%

Shares of HAFC stock traded down $0.16 during midday trading on Tuesday, reaching $24.98. 16,970 shares of the stock were exchanged, compared to its average volume of 181,341. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The firm has a market cap of $752.58 million, a PE ratio of 11.63 and a beta of 0.78. The company's 50 day moving average is $24.58 and its two-hundred day moving average is $23.38. Hanmi Financial Corporation has a 1 year low of $17.90 and a 1 year high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.12). The company had revenue of $65.21 million during the quarter, compared to analysts' expectations of $65.70 million. Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.During the same quarter in the previous year, the company earned $0.48 EPS. On average, equities research analysts predict that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, August 4th were paid a $0.27 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.08 annualized dividend and a dividend yield of 4.3%. Hanmi Financial's dividend payout ratio is presently 50.23%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler lowered 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. DA Davidson upped 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. Finally, Keefe, Bruyette & Woods upped 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. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.