Algert Global LLC Purchases 9,378 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Algert Global LLC boosted its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,147 shares of the bank’s stock after acquiring an additional 9,378 shares during the quarter. Algert Global LLC owned approximately 0.58% of Hanmi Financial worth $2,962,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HAFC. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after purchasing an additional 1,207 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Hanmi Financial by 90.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after buying an additional 2,441 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Hanmi Financial by 278.4% in the first quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after buying an additional 6,242 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Hanmi Financial during the 2nd quarter worth about $168,000. Finally, Entropy Technologies LP bought a new stake in shares of Hanmi Financial during the 1st quarter worth about $171,000. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DA Davidson boosted their target price on Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wedbush decreased their price objective on shares of Hanmi Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th.

Hanmi Financial Price Performance

Shares of NASDAQ:HAFC opened at $18.03 on Wednesday. The company has a market cap of $547.88 million, a price-to-earnings ratio of 7.51 and a beta of 0.88. The business has a 50 day moving average price of $19.09 and a 200 day moving average price of $17.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. Hanmi Financial Co. has a twelve month low of $13.87 and a twelve month high of $20.92.

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

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Monday, August 5th. 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.