Royce & Associates LP boosted its stake in shares of Hanmi Financial Corp (NASDAQ:HAFC) by 4,093.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 51,406 shares of the bank’s stock after purchasing an additional 50,180 shares during the period. Royce & Associates LP’s holdings in Hanmi Financial were worth $1,013,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new position in Hanmi Financial during the 4th quarter valued at approximately $238,000. Xact Kapitalforvaltning AB increased its position in Hanmi Financial by 52.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 16,509 shares of the bank’s stock valued at $325,000 after buying an additional 5,700 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in Hanmi Financial during the 4th quarter valued at approximately $429,000. MetLife Investment Advisors LLC increased its position in Hanmi Financial by 52.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 23,962 shares of the bank’s stock valued at $597,000 after buying an additional 8,281 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Hanmi Financial by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 35,556 shares of the bank’s stock valued at $700,000 after buying an additional 6,988 shares in the last quarter. 88.02% of the stock is owned by institutional investors.
Hanmi Financial stock opened at $21.51 on Friday. The firm has a market capitalization of $663.60 million, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. Hanmi Financial Corp has a 12 month low of $17.56 and a 12 month high of $32.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.99.
Hanmi Financial announced that its board has approved a share buyback program on Thursday, January 24th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Wednesday, January 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Tuesday, January 29th. Hanmi Financial’s payout ratio is 50.53%.
A number of research analysts recently weighed in on HAFC shares. TheStreet raised Hanmi Financial from a “c+” rating to a “b-” rating in a research report on Wednesday, February 20th. BidaskClub raised Hanmi Financial from a “hold” rating to a “buy” rating in a report on Friday, January 25th. Zacks Investment Research raised Hanmi Financial from a “sell” rating to a “hold” rating in a report on Friday, December 28th. Raymond James lowered Hanmi Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Finally, ValuEngine raised Hanmi Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 25th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Hanmi Financial has a consensus rating of “Hold” and a consensus target price of $27.33.
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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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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