Pallas Capital Advisors LLC Buys 504 Shares of Hanmi Financial Corporation $HAFC

Pallas Capital Advisors LLC increased its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,957 shares of the bank’s stock after buying an additional 504 shares during the period. Pallas Capital Advisors LLC’s holdings in Hanmi Financial were worth $320,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Voya Investment Management LLC boosted its holdings in shares of Hanmi Financial by 53.3% during the 1st quarter. Voya Investment Management LLC now owns 71,545 shares of the bank’s stock worth $1,621,000 after buying an additional 24,885 shares during the period. Strs Ohio bought a new stake in shares of Hanmi Financial during the 1st quarter worth about $505,000. Jane Street Group LLC boosted its holdings in shares of Hanmi Financial by 352.6% during the 1st quarter. Jane Street Group LLC now owns 44,723 shares of the bank’s stock worth $1,013,000 after buying an additional 34,841 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Hanmi Financial by 26.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,708 shares of the bank’s stock worth $1,942,000 after buying an additional 18,112 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Hanmi Financial by 5.4% during the 1st quarter. Empowered Funds LLC now owns 114,624 shares of the bank’s stock worth $2,597,000 after buying an additional 5,920 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

HAFC stock opened at $25.19 on Monday. The company has a 50 day simple moving average of $24.39 and a 200 day simple moving average of $23.48. The stock has a market cap of $758.97 million, a price-to-earnings ratio of 11.72 and a beta of 0.78. Hanmi Financial Corporation has a 1 year low of $17.92 and a 1 year high of $27.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data 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 company had revenue of $65.21 million for the quarter, compared to analyst estimates of $65.70 million. Hanmi Financial had a return on equity of 8.77% and a net margin of 15.11%.During the same quarter in the prior year, the company earned $0.48 earnings per share. Research analysts anticipate that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, August 4th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, August 4th. Hanmi Financial’s dividend payout ratio is 50.23%.

Analysts Set New Price Targets

Several analysts recently commented on HAFC shares. Piper Sandler reduced their target price on shares of Hanmi Financial from $28.50 to $28.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. DA Davidson boosted their price objective on shares of Hanmi Financial from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Hanmi Financial from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hanmi Financial currently has a consensus rating of “Hold” and an average price target of $26.00.

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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.