Texas Permanent School Fund Corp Acquires 37,707 Shares of Hanmi Financial Corporation $HAFC

Texas Permanent School Fund Corp increased its stake in Hanmi Financial Corporation (NASDAQ:HAFC) by 139.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 64,825 shares of the bank’s stock after buying an additional 37,707 shares during the quarter. Texas Permanent School Fund Corp owned 0.22% of Hanmi Financial worth $1,600,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in Hanmi Financial by 8,375.5% in the first quarter. Russell Investments Group Ltd. now owns 45,598 shares of the bank’s stock worth $1,033,000 after buying an additional 45,060 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Hanmi Financial during the 1st quarter worth $258,000. Walleye Capital LLC purchased a new stake in Hanmi Financial in the 1st quarter worth about $323,000. American Century Companies Inc. raised its stake in Hanmi Financial by 10.1% in the 1st quarter. American Century Companies Inc. now owns 818,831 shares of the bank’s stock valued at $18,555,000 after acquiring an additional 75,365 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Hanmi Financial by 14.5% during the first quarter. Hsbc Holdings PLC now owns 13,520 shares of the bank’s stock valued at $306,000 after purchasing an additional 1,709 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Stock Performance

Hanmi Financial stock opened at $28.33 on Tuesday. Hanmi Financial Corporation has a 1-year low of $19.25 and a 1-year high of $29.46. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $848.48 million, a PE ratio of 11.85 and a beta of 0.75. The firm’s 50 day simple moving average is $27.07 and its 200 day simple moving average is $25.37.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. The firm had revenue of $70.96 million during the quarter, compared to analyst estimates of $67.80 million. As a group, analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Tuesday, November 4th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, November 4th. Hanmi Financial’s dividend payout ratio is currently 45.19%.

Analysts Set New Price Targets

HAFC has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 15th. Wall Street Zen upgraded Hanmi Financial from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Zacks Research upgraded Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Hanmi Financial Profile

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.