EMC Capital Management Lowers Stake in Hanmi Financial Corporation $HAFC

EMC Capital Management lowered its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 18.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,547 shares of the bank’s stock after selling 2,221 shares during the period. EMC Capital Management’s holdings in Hanmi Financial were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAFC. Quarry LP lifted its holdings in shares of Hanmi Financial by 114.3% during the first quarter. Quarry LP now owns 1,830 shares of the bank’s stock valued at $41,000 after purchasing an additional 976 shares during the last quarter. US Bancorp DE bought a new position in Hanmi Financial during the 1st quarter valued at approximately $42,000. Nisa Investment Advisors LLC raised its stake in Hanmi Financial by 15.1% during the second quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock valued at $100,000 after buying an additional 531 shares during the last quarter. Quantbot Technologies LP raised its stake in Hanmi Financial by 151.1% during the first quarter. Quantbot Technologies LP now owns 6,134 shares of the bank’s stock valued at $139,000 after buying an additional 3,691 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in Hanmi Financial in the second quarter worth $216,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

HAFC opened at $25.91 on Wednesday. The company’s 50-day simple moving average is $25.46 and its two-hundred day simple moving average is $24.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $776.13 million, a P/E ratio of 10.84 and a beta of 0.75. Hanmi Financial Corporation has a 52-week low of $19.25 and a 52-week high of $27.61.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, October 21st. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The firm had revenue of $70.96 million during the quarter, compared to analysts’ expectations of $67.80 million. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. As a group, analysts predict that Hanmi Financial Corporation will post 2.6 EPS for the current year.

Hanmi Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Tuesday, November 4th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, November 4th. Hanmi Financial’s dividend payout ratio is presently 45.19%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HAFC shares. Piper Sandler lowered their price target on Hanmi Financial from $28.50 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday. Zacks Research upgraded shares of Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Wall Street Zen upgraded shares of Hanmi Financial from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.50.

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.