Proficio Capital Partners LLC Makes New Investment in Hanmi Financial Co. (NASDAQ:HAFC)

Proficio Capital Partners LLC acquired a new stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,424 shares of the bank’s stock, valued at approximately $364,000. Proficio Capital Partners LLC owned 0.05% of Hanmi Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HAFC. JPMorgan Chase & Co. raised its stake in Hanmi Financial by 71.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock worth $15,552,000 after buying an additional 349,339 shares during the period. FMR LLC lifted its holdings in shares of Hanmi Financial by 26.1% in the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after purchasing an additional 182,164 shares in the last quarter. Stieven Capital Advisors L.P. grew its position in Hanmi Financial by 20.6% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock valued at $10,622,000 after purchasing an additional 97,500 shares during the period. Bank of New York Mellon Corp increased its stake in Hanmi Financial by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 489,126 shares of the bank’s stock valued at $11,553,000 after purchasing an additional 41,020 shares in the last quarter. Finally, Barclays PLC raised its holdings in Hanmi Financial by 74.0% during the third quarter. Barclays PLC now owns 67,158 shares of the bank’s stock worth $1,248,000 after buying an additional 28,561 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. DA Davidson reiterated a “neutral” rating and set a $27.50 price target on shares of Hanmi Financial in a research note on Thursday, January 30th. 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 note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.75.

Hanmi Financial Stock Down 4.1 %

Hanmi Financial stock opened at $21.52 on Tuesday. Hanmi Financial Co. has a fifty-two week low of $14.45 and a fifty-two week high of $27.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. The firm’s 50-day simple moving average is $23.43 and its 200 day simple moving average is $22.64. The stock has a market cap of $649.82 million, a PE ratio of 10.50 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. Research analysts predict that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 5.02%. Hanmi Financial’s dividend payout ratio (DPR) is currently 52.68%.

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.