Bank of New York Mellon Corp decreased its holdings in Hanmi Financial Corp (NASDAQ:HAFC) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,284 shares of the bank’s stock after selling 6,040 shares during the period. Bank of New York Mellon Corp owned 1.39% of Hanmi Financial worth $12,794,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of HAFC. BlackRock Inc. increased its stake in shares of Hanmi Financial by 6.2% in the second quarter. BlackRock Inc. now owns 4,618,457 shares of the bank’s stock worth $130,934,000 after purchasing an additional 271,266 shares in the last quarter. Millennium Management LLC increased its stake in shares of Hanmi Financial by 22.2% in the second quarter. Millennium Management LLC now owns 700,886 shares of the bank’s stock worth $19,870,000 after purchasing an additional 127,331 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Hanmi Financial by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,187,131 shares of the bank’s stock worth $62,006,000 after purchasing an additional 123,016 shares in the last quarter. Citadel Advisors LLC grew its stake in Hanmi Financial by 106.4% during the second quarter. Citadel Advisors LLC now owns 170,501 shares of the bank’s stock valued at $4,834,000 after acquiring an additional 87,879 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Hanmi Financial by 14.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 527,216 shares of the bank’s stock valued at $14,946,000 after acquiring an additional 67,935 shares in the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.
Several brokerages recently commented on HAFC. ValuEngine raised shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 18th. Zacks Investment Research raised shares of Hanmi Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Piper Jaffray Companies set a $28.00 price objective on shares of Hanmi Financial and gave the company a “hold” rating in a research note on Monday, October 8th. TheStreet cut shares of Hanmi Financial from a “b-” rating to a “c+” rating in a research note on Thursday, October 18th. Finally, BidaskClub raised shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Hanmi Financial presently has an average rating of “Hold” and a consensus target price of $28.50.
Shares of NASDAQ:HAFC opened at $20.70 on Friday. The company has a market cap of $659.12 million, a P/E ratio of 11.44, a PEG ratio of 1.33 and a beta of 0.89. Hanmi Financial Corp has a 12 month low of $17.56 and a 12 month high of $32.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.02 and a quick ratio of 1.02.
Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $51.54 million for the quarter, compared to analysts’ expectations of $53.60 million. Hanmi Financial had a net margin of 22.82% and a return on equity of 10.92%. As a group, equities research analysts anticipate that Hanmi Financial Corp will post 1.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Friday, November 2nd were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $0.96 annualized dividend and a yield of 4.64%. Hanmi Financial’s dividend payout ratio is currently 53.04%.
Hanmi Financial declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 30th that permits the company to buyback 1,600,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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About Hanmi Financial
Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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