Hanmi Financial Co. (NASDAQ:HAFC) Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 129.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,904 shares of the bank’s stock after purchasing an additional 33,747 shares during the quarter. Texas Permanent School Fund Corp owned 0.20% of Hanmi Financial worth $1,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in Hanmi Financial by 90.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after buying an additional 2,441 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of Hanmi Financial by 278.4% in the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after acquiring an additional 6,242 shares during the period. Entropy Technologies LP purchased a new position in Hanmi Financial in the 1st quarter valued at approximately $171,000. Aigen Investment Management LP acquired a new position in Hanmi Financial during the fourth quarter worth $217,000. Finally, EMC Capital Management boosted its position in Hanmi Financial by 8.9% during the first quarter. EMC Capital Management now owns 11,768 shares of the bank’s stock worth $187,000 after purchasing an additional 958 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

HAFC stock opened at $19.31 on Friday. The stock’s 50 day moving average price is $19.18 and its 200 day moving average price is $16.86. The firm has a market cap of $586.77 million, a P/E ratio of 8.05 and a beta of 0.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. Hanmi Financial Co. has a 1 year low of $13.87 and a 1 year high of $20.92.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The business had revenue of $106.72 million for the quarter, compared to the consensus estimate of $59.07 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same period in the prior year, the business earned $0.67 earnings per share. On average, sell-side analysts expect that Hanmi Financial Co. will post 1.98 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 5.18%. Hanmi Financial’s dividend payout ratio is currently 41.67%.

Analysts Set New Price Targets

HAFC has been the subject of a number of research analyst reports. Wedbush raised their price target on Hanmi Financial from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. DA Davidson increased their price objective on shares of Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th.

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.