Hanmi Financial Co. (NASDAQ:HAFC) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,582 shares of the bank’s stock after acquiring an additional 3,400 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.06% of Hanmi Financial worth $415,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HAFC. American Century Companies Inc. boosted its holdings in shares of Hanmi Financial by 16.5% in the 2nd 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 during the last quarter. Intech Investment Management LLC purchased a new position in Hanmi Financial in the second quarter valued at about $624,000. Sei Investments Co. lifted its stake in shares of Hanmi Financial by 12.6% during the second quarter. Sei Investments Co. now owns 31,181 shares of the bank’s stock worth $521,000 after purchasing an additional 3,500 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Hanmi Financial by 5.3% during the second quarter. Public Sector Pension Investment Board now owns 66,430 shares of the bank’s stock worth $1,111,000 after purchasing an additional 3,357 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Hanmi Financial in the second quarter worth about $2,979,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Stock Performance

Hanmi Financial stock opened at $22.74 on Tuesday. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The stock has a market cap of $686.75 million, a P/E ratio of 10.93 and a beta of 0.89. The stock has a 50 day moving average of $24.53 and a 200-day moving average of $21.39.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same period in the prior year, the firm posted $0.62 EPS. On average, analysts expect that Hanmi Financial Co. will post 2 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 4.40%. Hanmi Financial’s payout ratio is 48.08%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. DA Davidson boosted their target price on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.38.

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