First Trust Advisors LP Grows Stock Position in Hanmi Financial Corporation $HAFC

First Trust Advisors LP raised its position in Hanmi Financial Corporation (NASDAQ:HAFC) by 13.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,457 shares of the bank’s stock after buying an additional 16,337 shares during the quarter. First Trust Advisors LP’s holdings in Hanmi Financial were worth $3,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after acquiring an additional 45,511 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hanmi Financial by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock worth $46,416,000 after acquiring an additional 56,102 shares during the last quarter. State Street Corp increased its holdings in Hanmi Financial by 0.3% in the 4th quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock worth $36,487,000 after acquiring an additional 4,651 shares during the last quarter. Geode Capital Management LLC raised its stake in Hanmi Financial by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 837,483 shares of the bank’s stock valued at $22,641,000 after acquiring an additional 25,143 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Hanmi Financial by 30.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock valued at $21,260,000 after acquiring an additional 181,509 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Trading Up 0.1%

Shares of HAFC opened at $32.40 on Thursday. Hanmi Financial Corporation has a 1-year low of $22.35 and a 1-year high of $33.50. The company has a market capitalization of $964.55 million, a P/E ratio of 10.91 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $31.66 and its 200 day simple moving average is $29.11.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $72.21 million for the quarter, compared to analysts’ expectations of $74.03 million. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. Sell-side analysts forecast that Hanmi Financial Corporation will post 3.18 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, August 3rd will be paid a $0.28 dividend. 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 Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th. 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 note on Thursday, July 23rd. Capital One Financial set a $32.00 price target on shares of Hanmi Financial in a research report on Thursday, May 28th. Brean Capital restated a “neutral” rating and set a $32.00 price target on shares of Hanmi Financial in a research note on Thursday, May 28th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hanmi Financial currently has an average rating of “Hold” and an average price target of $33.00.

Insiders Place Their Bets

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $30.73, for a total transaction of $163,883.09. Following the sale, the insider owned 41,615 shares in the company, valued at $1,278,828.95. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.12% of the stock is owned by insiders.

Hanmi Financial Company 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.