Hanmi Financial Co. (NASDAQ:HAFC) Stake Raised by Cresset Asset Management LLC

Cresset Asset Management LLC grew its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 56,990 shares of the bank’s stock after purchasing an additional 535 shares during the quarter. Cresset Asset Management LLC’s holdings in Hanmi Financial were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Cubist Systematic Strategies LLC increased its stake in shares of Hanmi Financial by 29.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 49,268 shares of the bank’s stock valued at $1,164,000 after acquiring an additional 11,244 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Hanmi Financial during the fourth quarter valued at approximately $474,000. Algert Global LLC increased its stake in shares of Hanmi Financial by 2.3% during the fourth quarter. Algert Global LLC now owns 174,791 shares of the bank’s stock valued at $4,129,000 after acquiring an additional 3,944 shares during the period. Rhino Investment Partners Inc acquired a new position in shares of Hanmi Financial during the fourth quarter valued at approximately $15,400,000. Finally, Northern Trust Corp increased its stake in shares of Hanmi Financial by 7.0% during the fourth quarter. Northern Trust Corp now owns 328,274 shares of the bank’s stock valued at $7,754,000 after acquiring an additional 21,447 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Trading Down 0.7%

Hanmi Financial stock opened at $23.35 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $705.59 million, a price-to-earnings ratio of 11.39 and a beta of 0.67. Hanmi Financial Co. has a 1 year low of $14.95 and a 1 year high of $27.59. The firm’s 50 day moving average price is $22.15 and its two-hundred day moving average price is $23.50.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $62.82 million for the quarter, compared to analyst estimates of $63.45 million. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. On average, research analysts predict that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.63%. Hanmi Financial’s dividend payout ratio (DPR) is presently 50.70%.

Wall Street Analyst Weigh In

Separately, DA Davidson reiterated a “neutral” rating and set 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Hanmi Financial currently has an average rating of “Hold” and an average target price of $25.75.

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.