Hanmi Financial Co. (NASDAQ:HAFC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 489,126 shares of the bank’s stock after purchasing an additional 41,020 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hanmi Financial were worth $11,553,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Hanmi Financial by 71.8% in the third quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock worth $15,552,000 after acquiring an additional 349,339 shares during the last quarter. FMR LLC raised its stake in Hanmi Financial by 26.1% during the third quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after purchasing an additional 182,164 shares during the period. Stieven Capital Advisors L.P. raised its stake in Hanmi Financial by 20.6% during the third quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock worth $10,622,000 after purchasing an additional 97,500 shares during the period. Barclays PLC raised its stake in Hanmi Financial by 74.0% during the third quarter. Barclays PLC now owns 67,158 shares of the bank’s stock worth $1,248,000 after purchasing an additional 28,561 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Hanmi Financial during the 3rd quarter valued at $411,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HAFC. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $27.50 price objective on shares of Hanmi Financial in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Hanmi Financial has a consensus rating of “Hold” and a consensus price target of $25.75.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $21.30 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial Co. has a 1-year low of $14.45 and a 1-year high of $27.59. The company has a market capitalization of $643.17 million, a price-to-earnings ratio of 10.39 and a beta of 0.87. The business has a 50-day moving average of $23.32 and a 200-day moving average of $22.64.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. On average, equities analysts anticipate that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 5.07%. Hanmi Financial’s dividend payout ratio is 52.68%.

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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.