Royce & Associates LP Raises Position in Hanmi Financial Co. (NASDAQ:HAFC)

Royce & Associates LP lifted its stake in Hanmi Financial Co. (NASDAQ:HAFC) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,860 shares of the bank’s stock after acquiring an additional 4,058 shares during the quarter. Royce & Associates LP owned 0.65% of Hanmi Financial worth $4,650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. one8zero8 LLC bought a new stake in shares of Hanmi Financial in the fourth quarter worth approximately $404,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Hanmi Financial by 1.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,303 shares of the bank’s stock worth $1,944,000 after acquiring an additional 877 shares during the period. Amundi grew its stake in shares of Hanmi Financial by 213.3% in the fourth quarter. Amundi now owns 15,115 shares of the bank’s stock worth $338,000 after acquiring an additional 10,290 shares during the period. Arizona State Retirement System bought a new stake in shares of Hanmi Financial in the fourth quarter worth approximately $207,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Hanmi Financial in the fourth quarter worth approximately $364,000. 88.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. DA Davidson reiterated a “neutral” rating and issued a $27.50 price target on shares of Hanmi Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 target price (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.75.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $22.06 on Thursday. The firm has a 50 day moving average of $23.27 and a 200 day moving average of $22.72. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $666.12 million, a price-to-earnings ratio of 10.76 and a beta of 0.87. Hanmi Financial Co. has a 12-month low of $14.45 and a 12-month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. On average, research analysts anticipate that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were given a $0.27 dividend. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend was Monday, February 10th. Hanmi Financial’s dividend payout ratio is presently 52.68%.

About Hanmi Financial

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.