EMC Capital Management Acquires 958 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

EMC Capital Management grew its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,768 shares of the bank’s stock after purchasing an additional 958 shares during the quarter. EMC Capital Management’s holdings in Hanmi Financial were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Hanmi Financial by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock valued at $35,903,000 after purchasing an additional 58,097 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hanmi Financial by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after acquiring an additional 4,756 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Hanmi Financial by 151.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock worth $7,061,000 after acquiring an additional 266,949 shares during the last quarter. Acadian Asset Management LLC lifted its position in Hanmi Financial by 147.5% during the 1st quarter. Acadian Asset Management LLC now owns 280,909 shares of the bank’s stock worth $4,471,000 after acquiring an additional 167,430 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in Hanmi Financial by 2,264.9% during the 4th quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after acquiring an additional 228,365 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HAFC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 target price (down previously from $18.50) on shares of Hanmi Financial in a research report on Wednesday, April 24th. Wedbush boosted their target price on shares of Hanmi Financial from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, DA Davidson boosted their target price on shares of Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC traded down $0.54 on Friday, hitting $18.86. 235,032 shares of the company were exchanged, compared to its average volume of 251,129. The company’s 50 day moving average price is $16.91 and its two-hundred day moving average price is $16.17. Hanmi Financial Co. has a one year low of $13.87 and a one year high of $20.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $573.16 million, a price-to-earnings ratio of 8.08 and a beta of 0.90.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The company had revenue of $106.72 million for the quarter, compared to the consensus estimate of $59.07 million. During the same quarter in the previous year, the firm posted $0.67 EPS. Research analysts expect that Hanmi Financial Co. will post 1.98 earnings per share for the current year.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Monday, August 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 5.30%. Hanmi Financial’s payout ratio is currently 41.67%.

Hanmi Financial Profile

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.