Hanmi Financial Corporation $HAFC Shares Bought by Rhino Investment Partners Inc

Rhino Investment Partners Inc lifted its position in Hanmi Financial Corporation (NASDAQ:HAFC) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 881,957 shares of the bank’s stock after buying an additional 41,008 shares during the period. Hanmi Financial comprises 6.5% of Rhino Investment Partners Inc’s holdings, making the stock its 3rd largest position. Rhino Investment Partners Inc owned 2.96% of Hanmi Financial worth $23,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in Hanmi Financial by 35,033.3% in the first quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,051 shares during the period. Royal Bank of Canada raised its position in shares of Hanmi Financial by 30.5% during the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock worth $51,000 after purchasing an additional 439 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,764 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Hanmi Financial by 148.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after purchasing an additional 1,442 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new position in shares of Hanmi Financial in the 4th quarter valued at approximately $203,000. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Stock Up 0.6%

HAFC stock opened at $31.82 on Wednesday. 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 stock has a market capitalization of $947.15 million, a P/E ratio of 10.71 and a beta of 0.72. Hanmi Financial Corporation has a fifty-two week low of $22.00 and a fifty-two week high of $33.50. The business has a 50-day moving average of $31.46 and a 200-day moving average of $28.95.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $72.21 million for the quarter, compared to analyst estimates of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. On average, sell-side analysts anticipate that Hanmi Financial Corporation will post 3.18 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 3rd. Hanmi Financial’s dividend payout ratio (DPR) is currently 37.71%.

Insider Activity

In other news, insider Anthony I. Kim sold 5,333 shares of Hanmi Financial stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the sale, the insider directly 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 Securities & Exchange Commission, which is available at the SEC website. 2.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HAFC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Hanmi Financial in a research note on Wednesday, June 24th. Brean Capital reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Hanmi Financial in a research note on Thursday, May 28th. DA Davidson upped their price target on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Finally, Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Hanmi Financial presently has an average rating of “Hold” and an average target price of $33.00.

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.