US Bancorp DE Buys New Stake in Hanmi Financial Corporation $HAFC

US Bancorp DE bought a new stake in Hanmi Financial Corporation (NASDAQ:HAFC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,872 shares of the bank’s stock, valued at approximately $42,000.

Several other large investors have also recently added to or reduced their stakes in the business. De Lisle Partners LLP increased its position in Hanmi Financial by 39.1% in the 1st quarter. De Lisle Partners LLP now owns 71,703 shares of the bank’s stock valued at $1,626,000 after acquiring an additional 20,170 shares during the period. one8zero8 LLC boosted its stake in Hanmi Financial by 13.0% during the 1st quarter. one8zero8 LLC now owns 19,325 shares of the bank’s stock valued at $438,000 after purchasing an additional 2,225 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Hanmi Financial by 109.2% during the 1st quarter. Allianz Asset Management GmbH now owns 33,889 shares of the bank’s stock valued at $768,000 after purchasing an additional 17,689 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in Hanmi Financial during the 1st quarter valued at $1,826,000. Finally, CWM LLC boosted its stake in Hanmi Financial by 13.2% during the 1st quarter. CWM LLC now owns 35,594 shares of the bank’s stock valued at $807,000 after purchasing an additional 4,139 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Hanmi Financial Price Performance

HAFC opened at $23.83 on Wednesday. The stock has a fifty day moving average of $24.19 and a 200-day moving average of $23.35. The firm has a market capitalization of $718.00 million, a P/E ratio of 11.08 and a beta of 0.76. Hanmi Financial Corporation has a 12-month low of $17.90 and a 12-month high of $27.59. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.12). The business had revenue of $65.21 million during the quarter, compared to analysts’ expectations of $65.70 million. Hanmi Financial had a net margin of 15.11% and a return on equity of 8.77%. During the same quarter in the previous year, the company earned $0.48 EPS. Equities analysts forecast that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, August 4th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, August 4th. Hanmi Financial’s dividend payout ratio (DPR) is currently 50.23%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HAFC shares. DA Davidson increased their price target on Hanmi Financial from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Piper Sandler decreased their price target on Hanmi Financial from $28.50 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods increased their price target on Hanmi Financial from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.

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.