Mirae Asset Global Investments Co. Ltd. Makes New Investment in Hanmi Financial Corporation $HAFC

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Hanmi Financial Corporation (NASDAQ:HAFC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,037 shares of the bank’s stock, valued at approximately $866,000. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Hanmi Financial at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HAFC. Bank of New York Mellon Corp acquired a new position in shares of Hanmi Financial during the 2nd quarter worth about $12,570,000. Sei Investments Co. increased its stake in shares of Hanmi Financial by 212.4% in the 1st quarter. Sei Investments Co. now owns 50,903 shares of the bank’s stock valued at $1,342,000 after acquiring an additional 34,607 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Hanmi Financial by 26.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 413,571 shares of the bank’s stock valued at $10,902,000 after acquiring an additional 87,655 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Hanmi Financial by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock valued at $46,416,000 after acquiring an additional 56,102 shares during the period. Finally, Rhino Investment Partners Inc raised its position in shares of Hanmi Financial by 4.9% in the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock valued at $23,248,000 after acquiring an additional 41,008 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

NASDAQ:HAFC opened at $32.68 on Monday. Hanmi Financial Corporation has a 1 year low of $24.54 and a 1 year high of $34.46. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.09. The stock has a market cap of $968.96 million, a price-to-earnings ratio of 10.75 and a beta of 0.72. The stock has a 50-day moving average price of $31.80 and a two-hundred day moving average price of $29.99.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 27th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). The business had revenue of $76.60 million during the quarter, compared to the consensus estimate of $75.13 million. Hanmi Financial had a return on equity of 11.30% and a net margin of 20.06%. As a group, equities analysts expect that Hanmi Financial Corporation will post 3.20 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 9th will be given a $0.28 dividend. The ex-dividend date is Monday, November 9th. This represents a $1.12 annualized dividend and a dividend yield of 3.4%. Hanmi Financial’s payout ratio is currently 36.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a report on Monday, September 21st. Piper Sandler increased their target price on shares of Hanmi Financial from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, DA Davidson lifted their price target on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hanmi Financial presently has a consensus rating of “Hold” and an average price target of $33.40.

Hanmi Financial Profile

Hanmi Financial Corporation is the holding company for Hanmi Bank, a commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American and other small-business communities and has developed into a full-service regional bank serving individuals, businesses, and professional organizations.

Hanmi Bank offers commercial and consumer deposit accounts, business and personal lending, commercial real estate financing, small business loans, construction loans, and trade finance services.