Intech Investment Management LLC Buys New Stake in Hanmi Financial Co. (NASDAQ:HAFC)

Intech Investment Management LLC purchased a new position in shares of Hanmi Financial Co. (NASDAQ:HAFC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 37,292 shares of the bank’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Hanmi Financial by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock worth $35,903,000 after purchasing an additional 58,097 shares during the period. American Century Companies Inc. lifted its stake in shares of Hanmi Financial by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock worth $9,667,000 after acquiring an additional 82,087 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Hanmi Financial by 71.8% in the second quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock valued at $8,070,000 after acquiring an additional 201,789 shares in the last quarter. Stieven Capital Advisors L.P. increased its stake in shares of Hanmi Financial by 19.2% during the second quarter. Stieven Capital Advisors L.P. now owns 473,553 shares of the bank’s stock valued at $7,918,000 after acquiring an additional 76,198 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Hanmi Financial by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 451,399 shares of the bank’s stock worth $7,547,000 after purchasing an additional 17,112 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HAFC shares. DA Davidson lifted their price target on Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Wedbush decreased their target price on Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday.

Hanmi Financial Trading Down 1.1 %

Shares of NASDAQ:HAFC opened at $18.16 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $551.83 million, a price-to-earnings ratio of 7.57 and a beta of 0.88. Hanmi Financial Co. has a 1-year low of $13.87 and a 1-year high of $20.92. The company has a 50 day moving average price of $19.14 and a 200 day moving average price of $16.95.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $106.72 million during the quarter, compared to analyst estimates of $59.07 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same period last year, the company posted $0.67 EPS. On average, research analysts anticipate that Hanmi Financial Co. will post 1.98 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 5.51%. Hanmi Financial’s dividend payout ratio is currently 41.67%.

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.