State Street Corp increased its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,041,986 shares of the bank’s stock after buying an additional 27,444 shares during the quarter. State Street Corp owned about 3.25% of Hanmi Financial Corporation worth $29,643,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Alps Advisors Inc. grew its position in Hanmi Financial Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 15,081 shares of the bank’s stock worth $429,000 after buying an additional 39 shares in the last quarter. Texas Permanent School Fund grew its position in Hanmi Financial Corporation by 1.1% during the second quarter. Texas Permanent School Fund now owns 23,655 shares of the bank’s stock worth $673,000 after buying an additional 250 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in Hanmi Financial Corporation by 4.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,630 shares of the bank’s stock worth $217,000 after buying an additional 300 shares in the last quarter. Sei Investments Co. grew its position in Hanmi Financial Corporation by 0.8% during the second quarter. Sei Investments Co. now owns 57,127 shares of the bank’s stock worth $1,625,000 after buying an additional 467 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Hanmi Financial Corporation by 1.1% during the first quarter. Legal & General Group Plc now owns 53,382 shares of the bank’s stock worth $1,642,000 after buying an additional 601 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on HAFC. Zacks Investment Research cut Hanmi Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. Keefe, Bruyette & Woods set a $28.00 target price on Hanmi Financial Corporation and gave the stock a “hold” rating in a research note on Saturday, October 7th. Piper Jaffray Companies restated a “hold” rating and set a $31.00 target price on shares of Hanmi Financial Corporation in a research note on Friday, October 6th. ValuEngine upgraded Hanmi Financial Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, BidaskClub cut Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $31.00.
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Shares of Hanmi Financial Corporation (HAFC) opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.00. Hanmi Financial Corporation has a 12 month low of $25.45 and a 12 month high of $35.85. The firm has a market capitalization of $936.62, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 2.00 and a beta of 0.79.
Hanmi Financial Corporation (NASDAQ:HAFC) last released its earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Hanmi Financial Corporation had a return on equity of 10.60% and a net margin of 24.54%. The firm had revenue of $53.74 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the company earned $0.41 earnings per share. equities analysts anticipate that Hanmi Financial Corporation will post 1.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 30th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, October 27th. Hanmi Financial Corporation’s payout ratio is 46.93%.
Hanmi Financial Corporation Profile
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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