Citigroup Inc. lifted its holdings in Hanmi Financial Corp (NASDAQ:HAFC) by 73.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,438 shares of the bank’s stock after purchasing an additional 14,985 shares during the period. Citigroup Inc.’s holdings in Hanmi Financial were worth $698,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund acquired a new stake in shares of Hanmi Financial in the 4th quarter valued at $238,000. Xact Kapitalforvaltning AB lifted its stake in shares of Hanmi Financial by 52.7% in the 4th quarter. Xact Kapitalforvaltning AB now owns 16,509 shares of the bank’s stock valued at $325,000 after purchasing an additional 5,700 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Hanmi Financial in the 4th quarter valued at $429,000. MetLife Investment Advisors LLC lifted its stake in shares of Hanmi Financial by 52.8% in the 3rd quarter. MetLife Investment Advisors LLC now owns 23,962 shares of the bank’s stock valued at $597,000 after purchasing an additional 8,281 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Hanmi Financial by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 35,556 shares of the bank’s stock valued at $700,000 after purchasing an additional 6,988 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on HAFC. BidaskClub lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. ValuEngine lowered shares of Hanmi Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 7th. TheStreet raised shares of Hanmi Financial from a “c+” rating to a “b-” rating in a research report on Wednesday, February 20th. Zacks Investment Research lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 18th. Finally, Raymond James lowered shares of Hanmi Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.33.
Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, January 15th. The bank reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.05). The firm had revenue of $51.95 million for the quarter, compared to analyst estimates of $51.95 million. Hanmi Financial had a return on equity of 10.74% and a net margin of 22.35%. During the same period in the prior year, the firm earned $0.48 EPS. Equities analysts forecast that Hanmi Financial Corp will post 2.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Wednesday, January 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Tuesday, January 29th. Hanmi Financial’s dividend payout ratio is 50.53%.
Hanmi Financial declared that its board has authorized a share buyback program on Thursday, January 24th that permits the company to buyback 1,500,000 shares. This buyback authorization permits the bank to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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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