Segall Bryant & Hamill LLC Acquires New Shares in Hanmi Financial Corporation $HAFC

Segall Bryant & Hamill LLC bought a new stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 61,280 shares of the bank’s stock, valued at approximately $1,615,000. Segall Bryant & Hamill LLC owned about 0.21% of Hanmi Financial at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Hanmi Financial by 23.2% during the first quarter. Bank of America Corp DE now owns 120,766 shares of the bank’s stock valued at $3,183,000 after purchasing an additional 22,726 shares in the last quarter. Amundi bought a new stake in Hanmi Financial in the 1st quarter worth about $312,000. Royal Bank of Canada increased its holdings in Hanmi Financial by 85.4% in the 1st quarter. Royal Bank of Canada now owns 3,486 shares of the bank’s stock worth $92,000 after buying an additional 1,606 shares in the last quarter. Rhino Investment Partners Inc raised its position in Hanmi Financial by 4.9% in the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock worth $23,248,000 after buying an additional 41,008 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Hanmi Financial by 8.4% in the 1st quarter. Empowered Funds LLC now owns 132,115 shares of the bank’s stock worth $3,483,000 after buying an additional 10,187 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Trading Up 1.1%

Shares of NASDAQ:HAFC opened at $32.37 on Wednesday. The stock’s 50-day simple moving average is $31.62 and its two-hundred day simple moving average is $29.09. The stock has a market capitalization of $963.65 million, a price-to-earnings ratio of 10.90 and a beta of 0.73. Hanmi Financial Corporation has a 52-week low of $22.12 and a 52-week high of $33.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. The firm had revenue of $72.21 million during the quarter, compared to analyst estimates of $74.03 million. Analysts expect that Hanmi Financial Corporation will post 3.18 EPS for the current year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, August 3rd. Hanmi Financial’s dividend payout ratio is currently 37.71%.

Wall Street Analyst Weigh In

HAFC has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Brean Capital reissued a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Keefe, Bruyette & Woods increased their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a report on Thursday, May 28th. Finally, DA Davidson lifted their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.00.

Insider Buying and Selling

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the transaction, the insider directly owned 41,615 shares in the company, valued at approximately $1,278,828.95. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company’s stock.

About Hanmi Financial

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.