New York State Common Retirement Fund Grows Position in Hanmi Financial Co. (NASDAQ:HAFC)

New York State Common Retirement Fund raised its position in Hanmi Financial Co. (NASDAQ:HAFC) by 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,257 shares of the bank’s stock after purchasing an additional 1,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Hanmi Financial were worth $195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its stake in shares of Hanmi Financial by 1.1% during the third quarter. Intech Investment Management LLC now owns 37,706 shares of the bank’s stock valued at $701,000 after buying an additional 414 shares during the last quarter. Savant Capital LLC boosted its holdings in Hanmi Financial by 4.4% during the 4th quarter. Savant Capital LLC now owns 18,243 shares of the bank’s stock valued at $431,000 after acquiring an additional 776 shares during the period. Versant Capital Management Inc grew its position in Hanmi Financial by 110.7% in the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,035 shares during the last quarter. Royce & Associates LP increased its stake in Hanmi Financial by 0.6% in the third quarter. Royce & Associates LP now owns 192,802 shares of the bank’s stock worth $3,586,000 after purchasing an additional 1,089 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Hanmi Financial during the third quarter worth $28,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Stock Down 0.7 %

Shares of Hanmi Financial stock opened at $22.93 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market cap of $692.39 million, a price-to-earnings ratio of 11.19 and a beta of 0.88. The firm’s 50-day moving average is $23.51 and its two-hundred day moving average is $22.55. Hanmi Financial Co. has a 1 year low of $14.45 and a 1 year high of $27.59.

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

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were issued a $0.27 dividend. The ex-dividend date was Monday, February 10th. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 4.71%. Hanmi Financial’s payout ratio is currently 52.68%.

Analyst Ratings Changes

HAFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $27.50 target price on shares of Hanmi Financial in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.75.

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.