Arizona State Retirement System decreased its position in Hanmi Financial Corp (NASDAQ:HAFC) by 2.5% during the 1st quarter, Holdings Channel reports. The firm owned 47,703 shares of the bank’s stock after selling 1,238 shares during the period. Arizona State Retirement System’s holdings in Hanmi Financial were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Two Sigma Advisers LP lifted its stake in Hanmi Financial by 1.7% in the fourth quarter. Two Sigma Advisers LP now owns 49,971 shares of the bank’s stock valued at $984,000 after purchasing an additional 836 shares during the last quarter. Flinton Capital Management LLC lifted its stake in Hanmi Financial by 30.3% in the fourth quarter. Flinton Capital Management LLC now owns 5,544 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,288 shares during the last quarter. Neuburgh Advisers LLC lifted its stake in Hanmi Financial by 30.3% in the fourth quarter. Neuburgh Advisers LLC now owns 6,732 shares of the bank’s stock valued at $133,000 after purchasing an additional 1,564 shares during the last quarter. Teachers Advisors LLC lifted its stake in Hanmi Financial by 4.2% in the third quarter. Teachers Advisors LLC now owns 61,143 shares of the bank’s stock valued at $1,522,000 after purchasing an additional 2,443 shares during the last quarter. Finally, Context BH Capital Management LP lifted its stake in Hanmi Financial by 11.3% in the fourth quarter. Context BH Capital Management LP now owns 53,573 shares of the bank’s stock valued at $1,055,000 after purchasing an additional 5,455 shares during the last quarter. Institutional investors and hedge funds own 90.55% of the company’s stock.
Several equities analysts recently commented on the company. BidaskClub upgraded Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research downgraded Hanmi Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. ValuEngine upgraded Hanmi Financial from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, TheStreet upgraded Hanmi Financial from a “c+” rating to a “b-” rating in a research report on Wednesday, February 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Hanmi Financial has an average rating of “Hold” and an average price target of $27.33.
NASDAQ:HAFC opened at $22.72 on Thursday. The firm has a market cap of $702.99 million, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.36 and a beta of 1.02. Hanmi Financial Corp has a 1 year low of $17.56 and a 1 year high of $31.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21.
Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $51.14 million for the quarter, compared to the consensus estimate of $51.20 million. Hanmi Financial had a return on equity of 10.71% and a net margin of 21.65%. On average, analysts predict that Hanmi Financial Corp will post 2.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 6th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.23%. Hanmi Financial’s dividend payout ratio is currently 50.53%.
Hanmi Financial declared that its board has authorized a stock repurchase program on Thursday, January 24th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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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. 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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