Legato Capital Management LLC Buys New Shares in Hanmi Financial Corporation $HAFC

Legato Capital Management LLC bought a new stake in Hanmi Financial Corporation (NASDAQ:HAFC) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 17,266 shares of the bank’s stock, valued at approximately $467,000.

Several other hedge funds have also made changes to their positions in HAFC. Rhino Investment Partners Inc lifted its stake in shares of Hanmi Financial by 27.1% in the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after buying an additional 167,485 shares during the period. First Trust Advisors LP lifted its stake in shares of Hanmi Financial by 240.8% in the third quarter. First Trust Advisors LP now owns 117,241 shares of the bank’s stock valued at $2,895,000 after buying an additional 82,835 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Hanmi Financial by 287.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 83,475 shares of the bank’s stock valued at $2,257,000 after buying an additional 61,928 shares during the period. American Century Companies Inc. lifted its stake in shares of Hanmi Financial by 7.0% in the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock valued at $23,033,000 after buying an additional 60,876 shares during the period. Finally, UBS Group AG lifted its stake in Hanmi Financial by 85.6% during the third quarter. UBS Group AG now owns 117,892 shares of the bank’s stock worth $2,911,000 after purchasing an additional 54,386 shares during the period. Institutional investors own 88.66% of the company’s stock.

Insider Activity

In other news, insider Matthew Fuhr sold 3,300 shares of Hanmi Financial stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total value of $101,739.00. Following the completion of the transaction, the insider owned 34,002 shares in the company, valued at approximately $1,048,281.66. The trade was a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.12% of the company’s stock.

Hanmi Financial Stock Down 0.8%

Shares of HAFC opened at $30.47 on Thursday. The stock has a market cap of $907.09 million, a price-to-earnings ratio of 11.37 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. Hanmi Financial Corporation has a 12 month low of $22.00 and a 12 month high of $31.33. The company has a 50-day moving average price of $28.33 and a two-hundred day moving average price of $27.74.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $134.95 million during the quarter, compared to analysts’ expectations of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. Equities analysts predict that Hanmi Financial Corporation will post 3.16 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th were paid a $0.28 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.7%. Hanmi Financial’s payout ratio is 41.79%.

Analysts Set New Price Targets

A number of research analysts have commented on HAFC shares. Piper Sandler raised their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Finally, DA Davidson restated a “neutral” rating and set a $29.50 price target on shares of Hanmi Financial in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Hanmi Financial currently has an average rating of “Hold” and an average target price of $32.17.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.