Hanmi Financial Corporation $HAFC Shares Acquired by Rhino Investment Partners Inc

Rhino Investment Partners Inc lifted its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 27.1% during the third quarter, HoldingsChannel.com reports. The fund owned 785,756 shares of the bank’s stock after purchasing an additional 167,485 shares during the quarter. Hanmi Financial makes up 6.1% of Rhino Investment Partners Inc’s holdings, making the stock its 5th largest position. Rhino Investment Partners Inc’s holdings in Hanmi Financial were worth $19,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HAFC. Royal Bank of Canada raised its position in Hanmi Financial by 8.1% in the 1st quarter. Royal Bank of Canada now owns 16,441 shares of the bank’s stock valued at $372,000 after purchasing an additional 1,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hanmi Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock worth $405,000 after purchasing an additional 780 shares during the last quarter. Empowered Funds LLC increased its stake in Hanmi Financial by 5.4% in the first quarter. Empowered Funds LLC now owns 114,624 shares of the bank’s stock valued at $2,597,000 after purchasing an additional 5,920 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Hanmi Financial by 26.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,708 shares of the bank’s stock valued at $1,942,000 after purchasing an additional 18,112 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Hanmi Financial by 352.6% in the first quarter. Jane Street Group LLC now owns 44,723 shares of the bank’s stock valued at $1,013,000 after buying an additional 34,841 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Stock Up 0.5%

HAFC stock opened at $25.39 on Friday. The stock has a market capitalization of $758.91 million, a PE ratio of 10.12 and a beta of 0.74. The company has a fifty day moving average of $27.21 and a 200-day moving average of $26.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 0.99. Hanmi Financial Corporation has a one year low of $19.25 and a one year high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $71.20 million for the quarter, compared to analyst estimates of $71.40 million. Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%. As a group, analysts expect that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hanmi Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, February 9th. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. Hanmi Financial’s payout ratio is presently 44.62%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HAFC shares. Zacks Research downgraded shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. DA Davidson restated a “neutral” rating and issued a $29.50 price target on shares of Hanmi Financial in a research report on Thursday, January 29th. Wall Street Zen downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday, December 29th. Finally, Piper Sandler lifted their target price on Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Hanmi Financial presently has an average rating of “Hold” and a consensus target price of $31.33.

About Hanmi Financial

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.