Bank of New York Mellon Corp Increases Stock Position in Hanmi Financial Co. (NASDAQ:HAFC)

Bank of New York Mellon Corp lifted its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 489,126 shares of the bank’s stock after buying an additional 41,020 shares during the period. Bank of New York Mellon Corp owned about 1.62% of Hanmi Financial worth $11,553,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HAFC. JPMorgan Chase & Co. raised its position in Hanmi Financial by 71.8% in the third quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank’s stock worth $15,552,000 after acquiring an additional 349,339 shares in the last quarter. Barclays PLC grew its stake in shares of Hanmi Financial by 74.0% during the 3rd quarter. Barclays PLC now owns 67,158 shares of the bank’s stock worth $1,248,000 after purchasing an additional 28,561 shares during the period. Jane Street Group LLC increased its holdings in shares of Hanmi Financial by 24.7% in the 3rd quarter. Jane Street Group LLC now owns 60,051 shares of the bank’s stock valued at $1,117,000 after purchasing an additional 11,911 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Hanmi Financial by 110.7% in the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,035 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Hanmi Financial by 10.3% in the third quarter. Principal Financial Group Inc. now owns 164,299 shares of the bank’s stock valued at $3,056,000 after purchasing an additional 15,385 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Hanmi Financial Stock Down 1.8 %

Shares of NASDAQ HAFC opened at $21.30 on Friday. 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 firm’s 50-day moving average is $23.32 and its two-hundred day moving average is $22.64. Hanmi Financial Co. has a 12-month low of $14.45 and a 12-month high of $27.59. The company has a market capitalization of $643.17 million, a PE ratio of 10.39 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, beating 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%. Equities analysts anticipate that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were paid a $0.27 dividend. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.08 annualized dividend and a yield of 5.07%. Hanmi Financial’s payout ratio is presently 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.