Hanmi Financial Corporation $HAFC is Rhino Investment Partners Inc’s 5th Largest Position

Rhino Investment Partners Inc lifted its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 27.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 785,756 shares of the bank’s stock after buying an additional 167,485 shares during the quarter. Hanmi Financial makes up approximately 6.1% of Rhino Investment Partners Inc’s portfolio, making the stock its 5th biggest position. Rhino Investment Partners Inc owned 2.61% of Hanmi Financial worth $19,400,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in Hanmi Financial in the third quarter valued at approximately $7,191,000. First Trust Advisors LP grew its holdings in Hanmi Financial by 240.8% during the 3rd quarter. First Trust Advisors LP now owns 117,241 shares of the bank’s stock worth $2,895,000 after acquiring an additional 82,835 shares in the last quarter. American Century Companies Inc. grew its holdings in Hanmi Financial by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock worth $23,033,000 after acquiring an additional 60,876 shares in the last quarter. UBS Group AG increased its position in shares of Hanmi Financial by 85.6% in the 3rd quarter. UBS Group AG now owns 117,892 shares of the bank’s stock valued at $2,911,000 after purchasing an additional 54,386 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Hanmi Financial by 3.0% in the 2nd quarter. LSV Asset Management now owns 1,417,475 shares of the bank’s stock valued at $34,983,000 after purchasing an additional 40,684 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Stock Performance

NASDAQ HAFC opened at $25.39 on Friday. The company has a fifty day moving average of $27.21 and a two-hundred day moving average of $26.62. The company has a market capitalization of $758.91 million, a PE ratio of 10.12 and a beta of 0.74. Hanmi Financial Corporation has a 1 year low of $19.25 and a 1 year high of $30.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, January 27th. The bank reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%.The firm had revenue of $71.20 million for the quarter, compared to analyst estimates of $71.40 million. As a group, analysts expect that Hanmi Financial Corporation will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Monday, February 9th were paid a dividend of $0.28 per share. The ex-dividend date was Monday, February 9th. This represents a $1.12 dividend on an annualized basis and a yield of 4.4%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.27. Hanmi Financial’s dividend payout ratio (DPR) is 44.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Wall Street Zen lowered Hanmi Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Piper Sandler raised their price target on Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $29.50 price objective on shares of Hanmi Financial in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.33.

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.