Maryland State Retirement & Pension System Takes Position in Hanmi Financial Corporation $HAFC

Maryland State Retirement & Pension System bought a new stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,754 shares of the bank’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HAFC. LSV Asset Management grew its position in shares of Hanmi Financial by 16.4% during the 1st quarter. LSV Asset Management now owns 1,376,791 shares of the bank’s stock valued at $31,198,000 after acquiring an additional 193,610 shares during the period. Nuveen LLC bought a new position in Hanmi Financial in the 1st quarter worth approximately $2,925,000. Segall Bryant & Hamill LLC bought a new position in Hanmi Financial in the 1st quarter worth approximately $1,826,000. American Century Companies Inc. boosted its holdings in Hanmi Financial by 10.1% in the 1st quarter. American Century Companies Inc. now owns 818,831 shares of the bank’s stock worth $18,555,000 after buying an additional 75,365 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Hanmi Financial by 83.6% in the 1st quarter. Public Sector Pension Investment Board now owns 137,210 shares of the bank’s stock worth $3,109,000 after buying an additional 62,459 shares during the period. 88.66% of the stock is owned by institutional investors.

Hanmi Financial Stock Performance

NASDAQ HAFC opened at $24.84 on Wednesday. Hanmi Financial Corporation has a 1 year low of $19.25 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. The stock has a market capitalization of $748.33 million, a PE ratio of 11.55 and a beta of 0.71. The company’s 50 day simple moving average is $24.55 and its two-hundred day simple moving average is $23.77.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.12). The firm had revenue of $65.21 million during the quarter, compared to analysts’ expectations 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. Analysts predict that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, August 4th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 4th. This represents a $1.08 annualized dividend and a dividend yield of 4.3%. Hanmi Financial’s dividend payout ratio (DPR) is 50.23%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HAFC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hanmi Financial in a report on Wednesday, October 8th. Zacks Research raised shares of Hanmi Financial from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Hanmi Financial from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Piper Sandler cut their price objective 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. Finally, DA Davidson raised their price objective on shares of Hanmi Financial from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hanmi Financial has an average rating of “Hold” and an average 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.