Hanmi Financial Co. (NASDAQ:HAFC) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,274 shares of the bank’s stock after purchasing an additional 21,447 shares during the quarter. Northern Trust Corp’s holdings in Hanmi Financial were worth $7,754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HAFC. Smartleaf Asset Management LLC lifted its stake in shares of Hanmi Financial by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock worth $25,000 after purchasing an additional 747 shares in the last quarter. R Squared Ltd acquired a new position in shares of Hanmi Financial during the fourth quarter worth about $43,000. Quantbot Technologies LP lifted its stake in shares of Hanmi Financial by 5,858.5% during the fourth quarter. Quantbot Technologies LP now owns 2,443 shares of the bank’s stock worth $58,000 after purchasing an additional 2,402 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Hanmi Financial during the fourth quarter worth about $79,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Hanmi Financial during the fourth quarter worth about $132,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Stock Down 0.6%

Shares of NASDAQ HAFC opened at $23.86 on Monday. Hanmi Financial Co. has a 1 year low of $14.95 and a 1 year high of $27.59. The firm has a market cap of $720.86 million, a price-to-earnings ratio of 11.64 and a beta of 0.67. 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 stock’s 50-day simple moving average is $22.32 and its 200-day simple moving average is $23.53.

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

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.53%. The ex-dividend date is Monday, May 5th. Hanmi Financial’s dividend payout ratio is currently 50.70%.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed a “neutral” rating and set a $27.50 target price on shares of Hanmi Financial in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.