Rhino Investment Partners Inc Invests $15.40 Million in Hanmi Financial Co. (NASDAQ:HAFC)

Rhino Investment Partners Inc purchased a new stake in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 651,994 shares of the bank's stock, valued at approximately $15,400,000. Hanmi Financial comprises about 3.4% of Rhino Investment Partners Inc's portfolio, making the stock its 11th largest holding. Rhino Investment Partners Inc owned 2.16% of Hanmi Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in shares of Hanmi Financial by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank's stock worth $25,000 after buying an additional 747 shares during the last quarter. Savant Capital LLC boosted its stake in shares of Hanmi Financial by 4.4% in the fourth quarter. Savant Capital LLC now owns 18,243 shares of the bank's stock worth $431,000 after acquiring an additional 776 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Hanmi Financial by 1.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,303 shares of the bank's stock worth $1,944,000 after buying an additional 877 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Hanmi Financial by 1.2% in the fourth quarter. Legal & General Group Plc now owns 80,571 shares of the bank's stock valued at $1,903,000 after purchasing an additional 994 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Hanmi Financial by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 18,687 shares of the bank's stock valued at $441,000 after acquiring an additional 995 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a "neutral" rating and issued a $27.50 price objective on shares of Hanmi Financial in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Hanmi Financial presently has a consensus rating of "Hold" and an average target price of $25.75.

Hanmi Financial Trading Up 0.2 %

Hanmi Financial stock traded up $0.04 during midday trading on Tuesday, reaching $23.32. The stock had a trading volume of 61,295 shares, compared to its average volume of 204,033. Hanmi Financial Co. has a twelve month low of $14.95 and a twelve month high of $27.59. The stock has a market capitalization of $704.53 million, a PE ratio of 11.37 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. The stock's 50-day simple moving average is $22.18 and its 200 day simple moving average is $23.44.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. The firm had revenue of $62.82 million during the quarter, compared to analyst estimates of $63.45 million. Analysts expect that Hanmi Financial Co. will post 2.6 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.63%. Hanmi Financial's dividend payout ratio is currently 50.70%.

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.