Summit Global Investments Purchases Shares of 26,121 Hanmi Financial Co. (NASDAQ:HAFC)

Summit Global Investments bought a new position in Hanmi Financial Co. (NASDAQ:HAFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,121 shares of the bank’s stock, valued at approximately $617,000. Summit Global Investments owned about 0.09% of Hanmi Financial as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HAFC. JPMorgan Chase & Co. boosted its stake in shares of 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 buying an additional 349,339 shares during the last quarter. FMR LLC boosted its position in 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. Teacher Retirement System of Texas purchased a new stake in Hanmi Financial in the 4th quarter worth approximately $1,652,000. Bank of New York Mellon Corp boosted its holdings in Hanmi Financial by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 489,126 shares of the bank’s stock worth $11,553,000 after buying an additional 41,020 shares in the last quarter. Finally, Barclays PLC grew its position in Hanmi Financial by 74.0% during the third quarter. Barclays PLC now owns 67,158 shares of the bank’s stock valued at $1,248,000 after buying an additional 28,561 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Wall Street Analyst Weigh In

HAFC has been the topic of several recent analyst reports. DA Davidson reissued a “neutral” rating and set a $27.50 target price on shares of Hanmi Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.75.

Hanmi Financial Stock Up 1.6 %

HAFC stock opened at $22.46 on Monday. The stock has a market capitalization of $678.20 million, a P/E ratio of 10.96 and a beta of 0.87. The firm has a 50-day simple moving average of $23.29 and a 200-day simple moving average of $22.78. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, topping the consensus estimate 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 forecast that Hanmi Financial Co. will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.81%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. Hanmi Financial’s payout ratio is presently 52.68%.

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.