Foundry Partners LLC Acquires 12,545 Shares of Hanmi Financial Corp (HAFC)

Foundry Partners LLC grew its holdings in Hanmi Financial Corp (NASDAQ:HAFC) by 6.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,490 shares of the bank’s stock after purchasing an additional 12,545 shares during the period. Foundry Partners LLC’s holdings in Hanmi Financial were worth $5,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can increased its holdings in Hanmi Financial by 32.3% during the third quarter. Bank of Montreal Can now owns 133,067 shares of the bank’s stock worth $3,313,000 after buying an additional 32,494 shares during the last quarter. Northern Trust Corp increased its holdings in Hanmi Financial by 1.7% during the second quarter. Northern Trust Corp now owns 628,141 shares of the bank’s stock worth $17,809,000 after buying an additional 10,421 shares during the last quarter. California Public Employees Retirement System increased its holdings in Hanmi Financial by 8.3% during the second quarter. California Public Employees Retirement System now owns 48,957 shares of the bank’s stock worth $1,388,000 after buying an additional 3,747 shares during the last quarter. Millennium Management LLC increased its holdings in Hanmi Financial by 22.2% during the second quarter. Millennium Management LLC now owns 700,886 shares of the bank’s stock worth $19,870,000 after buying an additional 127,331 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Hanmi Financial during the second quarter worth $227,000. Institutional investors and hedge funds own 88.52% of the company’s stock.

In related news, Director Scott Diehl acquired 4,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were purchased at an average cost of $25.43 per share, for a total transaction of $101,720.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.91% of the stock is owned by insiders.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Hanmi Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. BidaskClub downgraded shares of Hanmi Financial from a “hold” rating to a “sell” rating in a report on Friday, July 13th. ValuEngine upgraded shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, August 18th. Piper Jaffray Companies set a $28.00 target price on shares of Hanmi Financial and gave the stock a “hold” rating in a report on Monday, October 8th. Finally, Raymond James lowered their target price on shares of Hanmi Financial from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Hanmi Financial has a consensus rating of “Hold” and an average target price of $30.00.

Shares of HAFC opened at $21.98 on Friday. Hanmi Financial Corp has a 1-year low of $21.97 and a 1-year high of $33.10. The firm has a market cap of $726.34 million, a P/E ratio of 11.88, a PEG ratio of 1.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, July 24th. The bank reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.06). Hanmi Financial had a net margin of 22.68% and a return on equity of 10.76%. The company had revenue of $51.06 million during the quarter, compared to analyst estimates of $55.13 million. On average, analysts predict that Hanmi Financial Corp will post 1.99 earnings per share for the current year.

Hanmi Financial declared that its board has approved a stock buyback plan on Thursday, August 30th that authorizes the company to repurchase 1,600,000 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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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Institutional Ownership by Quarter for Hanmi Financial (NASDAQ:HAFC)

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