Royce & Associates LP Reduces Stock Holdings in Hanmi Financial Corporation $HAFC

Royce & Associates LP reduced its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,727 shares of the bank’s stock after selling 17,588 shares during the quarter. Royce & Associates LP’s holdings in Hanmi Financial were worth $3,317,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of HAFC. Rhino Investment Partners Inc raised its holdings in shares of Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after buying an additional 167,485 shares during the period. First Trust Advisors LP raised its holdings in shares of Hanmi Financial by 240.8% during the 3rd quarter. First Trust Advisors LP now owns 117,241 shares of the bank’s stock valued at $2,895,000 after buying an additional 82,835 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Hanmi Financial by 287.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 83,475 shares of the bank’s stock valued at $2,257,000 after buying an additional 61,928 shares during the period. American Century Companies Inc. raised its holdings in shares of Hanmi Financial by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock valued at $23,033,000 after buying an additional 60,876 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Hanmi Financial during the 4th quarter valued at about $1,568,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on HAFC. Brean Capital restated a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday. Piper Sandler raised their price objective on Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised their price objective on Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Finally, Capital One Financial set a $32.00 price objective on Hanmi Financial in a research note on Thursday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.10.

Insider Activity

In related news, insider Matthew Fuhr sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total value of $101,739.00. Following the sale, the insider owned 34,002 shares of the company’s stock, valued at approximately $1,048,281.66. This trade represents a 8.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.12% of the company’s stock.

Hanmi Financial Price Performance

Shares of HAFC opened at $30.12 on Friday. The firm has a market cap of $896.67 million, a price-to-earnings ratio of 11.24 and a beta of 0.73. The stock has a 50 day moving average of $28.52 and a 200-day moving average of $27.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. Hanmi Financial Corporation has a 52 week low of $22.00 and a 52 week high of $31.33.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The company had revenue of $134.95 million during the quarter, compared to analyst estimates of $71.40 million. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%. As a group, analysts forecast that Hanmi Financial Corporation will post 3.16 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 3.7%. Hanmi Financial’s dividend payout ratio (DPR) is 41.79%.

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.