Wealth Enhancement Advisory Services LLC Makes New $349,000 Investment in Hanmi Financial Co. (NASDAQ:HAFC)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,787 shares of the bank’s stock, valued at approximately $349,000. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Hanmi Financial at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Hanmi Financial by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock valued at $35,903,000 after purchasing an additional 58,097 shares during the period. AQR Capital Management LLC grew its position in shares of Hanmi Financial by 32.2% during the second quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock valued at $17,937,000 after purchasing an additional 261,545 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Hanmi Financial by 16.5% in the second quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock valued at $9,667,000 after purchasing an additional 82,087 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Hanmi Financial by 71.8% in the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock valued at $8,070,000 after acquiring an additional 201,789 shares during the last quarter. Finally, Stieven Capital Advisors L.P. boosted its holdings in shares of Hanmi Financial by 19.2% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 473,553 shares of the bank’s stock worth $7,918,000 after purchasing an additional 76,198 shares during the period. Institutional investors own 88.66% of the company’s stock.

Analysts Set New Price Targets

HAFC has been the subject of several analyst reports. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Wedbush reissued a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. DA Davidson lifted their target price on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd.

Hanmi Financial Price Performance

NASDAQ HAFC opened at $24.89 on Monday. The stock’s fifty day moving average price is $20.24 and its 200 day moving average price is $18.25. Hanmi Financial Co. has a 1 year low of $14.45 and a 1 year high of $26.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market cap of $751.68 million, a price-to-earnings ratio of 11.97 and a beta of 0.84.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The firm had revenue of $108.86 million during the quarter, compared to analysts’ expectations of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same period last year, the business posted $0.62 earnings per share. As a group, equities research analysts forecast that Hanmi Financial Co. will post 2.01 earnings per share for the current year.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, November 4th. Hanmi Financial’s dividend payout ratio (DPR) is currently 48.08%.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.