Assenagon Asset Management S.A. bought a new position in shares of Hanmi Financial Corp (NASDAQ:HAFC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,613 shares of the bank’s stock, valued at approximately $132,000.
Several other institutional investors have also modified their holdings of the stock. FMR LLC raised its holdings in shares of Hanmi Financial by 6.5% during the first quarter. FMR LLC now owns 2,561,110 shares of the bank’s stock worth $54,475,000 after purchasing an additional 155,428 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Hanmi Financial by 8.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,009,168 shares of the bank’s stock worth $21,799,000 after purchasing an additional 155,776 shares during the last quarter. State Street Corp raised its holdings in shares of Hanmi Financial by 4.6% during the first quarter. State Street Corp now owns 1,145,086 shares of the bank’s stock worth $12,424,000 after purchasing an additional 49,963 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Hanmi Financial by 6.9% during the first quarter. Bank of New York Mellon Corp now owns 565,155 shares of the bank’s stock worth $6,131,000 after purchasing an additional 36,443 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of Hanmi Financial by 0.7% during the first quarter. Systematic Financial Management LP now owns 485,607 shares of the bank’s stock worth $5,269,000 after purchasing an additional 3,156 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on HAFC. Zacks Investment Research upgraded shares of Hanmi Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. BidaskClub lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Hanmi Financial presently has an average rating of “Hold” and a consensus price target of $21.50.
In related news, CEO Bonita Lee bought 4,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $7.80 per share, for a total transaction of $31,200.00. Following the completion of the transaction, the chief executive officer now directly owns 59,021 shares in the company, valued at $460,363.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John J. Ahn bought 5,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $7.78 per share, for a total transaction of $38,900.00. Following the transaction, the director now owns 26,862 shares of the company’s stock, valued at $208,986.36. The disclosure for this purchase can be found here. In the last quarter, insiders bought 10,000 shares of company stock worth $77,710. Company insiders own 2.90% of the company’s stock.
HAFC stock opened at $9.23 on Friday. The firm’s fifty day moving average is $9.35 and its 200 day moving average is $12.09. Hanmi Financial Corp has a one year low of $7.15 and a one year high of $21.93. The firm has a market cap of $282.62 million, a PE ratio of 10.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.00.
Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Thursday, April 30th. The bank reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.22). Hanmi Financial had a net margin of 9.70% and a return on equity of 4.82%. The company had revenue of $50.20 million during the quarter, compared to analyst estimates of $49.26 million. Research analysts predict that Hanmi Financial Corp will post 0.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 10th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.32 annualized dividend and a dividend yield of 3.47%. Hanmi Financial’s dividend payout ratio (DPR) is 45.28%.
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. 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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