LSV Asset Management Buys 17,684 Shares of Hanmi Financial Corp (HAFC)
LSV Asset Management raised its stake in shares of Hanmi Financial Corp (NASDAQ:HAFC) by 1.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,530,715 shares of the bank’s stock after buying an additional 17,684 shares during the period. LSV Asset Management’s holdings in Hanmi Financial were worth $32,558,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Systematic Financial Management LP grew its stake in shares of Hanmi Financial by 1.4% during the first quarter. Systematic Financial Management LP now owns 577,350 shares of the bank’s stock worth $12,280,000 after purchasing an additional 7,925 shares in the last quarter. Boston Partners grew its stake in shares of Hanmi Financial by 2.5% during the first quarter. Boston Partners now owns 1,046,283 shares of the bank’s stock worth $22,255,000 after purchasing an additional 25,122 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Hanmi Financial by 0.8% during the first quarter. Rhumbline Advisers now owns 112,340 shares of the bank’s stock worth $2,389,000 after purchasing an additional 895 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Hanmi Financial by 17.2% during the first quarter. SG Americas Securities LLC now owns 41,687 shares of the bank’s stock worth $887,000 after purchasing an additional 6,131 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Hanmi Financial by 52,675.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,333 shares of the bank’s stock worth $135,000 after purchasing an additional 6,321 shares in the last quarter. Hedge funds and other institutional investors own 89.55% of the company’s stock.
In other news, Director Joseph K. Rho sold 64,499 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $22.32, for a total value of $1,439,617.68. Following the completion of the sale, the director now directly owns 363,538 shares of the company’s stock, valued at $8,114,168.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph K. Rho sold 10,496 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.32, for a total transaction of $234,270.72. Following the completion of the sale, the director now directly owns 376,039 shares of the company’s stock, valued at $8,393,190.48. The disclosure for this sale can be found here. Insiders sold 112,999 shares of company stock valued at $2,535,296 in the last 90 days. 2.90% of the stock is currently owned by insiders.
Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. Hanmi Financial had a net margin of 21.65% and a return on equity of 10.71%. The company had revenue of $51.14 million during the quarter, compared to the consensus estimate of $51.20 million. On average, sell-side analysts anticipate that Hanmi Financial Corp will post 2.09 EPS for the current fiscal year.
Hanmi Financial announced that its Board of Directors has approved a share repurchase plan on Thursday, January 24th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.96 annualized dividend and a yield of 4.35%. Hanmi Financial’s dividend payout ratio is presently 50.53%.
A number of equities analysts recently commented on HAFC shares. BidaskClub downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Zacks Investment Research downgraded shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. TheStreet upgraded shares of Hanmi Financial from a “c+” rating to a “b-” rating in a research note on Wednesday, February 20th. Finally, ValuEngine downgraded shares of Hanmi Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.33.
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Hanmi Financial Company 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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