Legato Capital Management LLC Invests $467,000 in Hanmi Financial Corporation $HAFC

Legato Capital Management LLC bought a new position in shares of Hanmi Financial Corporation (NASDAQ:HAFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,266 shares of the bank’s stock, valued at approximately $467,000. Legato Capital Management LLC owned about 0.06% of Hanmi Financial at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HAFC. Rhino Investment Partners Inc increased its position in Hanmi Financial by 27.1% during the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock worth $19,400,000 after buying an additional 167,485 shares during the last quarter. First Trust Advisors LP increased its position in Hanmi Financial by 240.8% during the third quarter. First Trust Advisors LP now owns 117,241 shares of the bank’s stock worth $2,895,000 after buying an additional 82,835 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Hanmi Financial by 287.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 83,475 shares of the bank’s stock worth $2,257,000 after buying an additional 61,928 shares during the last quarter. American Century Companies Inc. increased its position in Hanmi Financial by 7.0% during the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after buying an additional 60,876 shares during the last quarter. Finally, UBS Group AG increased its position in Hanmi Financial by 85.6% during the third quarter. UBS Group AG now owns 117,892 shares of the bank’s stock worth $2,911,000 after buying an additional 54,386 shares during the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

Hanmi Financial Stock Down 0.8%

HAFC stock opened at $30.47 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. Hanmi Financial Corporation has a 52-week low of $22.00 and a 52-week high of $31.33. The company has a 50-day moving average of $28.33 and a two-hundred day moving average of $27.74. The stock has a market capitalization of $907.09 million, a price-to-earnings ratio of 11.37 and a beta of 0.73.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. The company had revenue of $134.95 million during the quarter, compared to analysts’ expectations of $71.40 million. As a group, equities research analysts anticipate that Hanmi Financial Corporation will post 3.16 EPS for the current year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.79%.

Insider Buying and Selling at Hanmi Financial

In related news, insider Matthew Fuhr sold 3,300 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total value of $101,739.00. Following the completion of the sale, the insider owned 34,002 shares in the company, valued at approximately $1,048,281.66. This trade represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on HAFC. Piper Sandler increased their target price on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. DA Davidson restated a “neutral” rating and set a $29.50 price target on shares of Hanmi Financial in a report on Thursday, January 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $32.17.

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.