Hanmi Financial Corporation (HAFC) Shares Sold by Capstone Asset Management Co.
Capstone Asset Management Co. decreased its stake in Hanmi Financial Corporation (NASDAQ:HAFC) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 8,729 shares of the bank’s stock after selling 800 shares during the period. Capstone Asset Management Co.’s holdings in Hanmi Financial Corporation were worth $248,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Hanmi Financial Corporation by 48,878.9% in the first quarter. BlackRock Inc. now owns 3,983,942 shares of the bank’s stock valued at $122,506,000 after buying an additional 3,975,808 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hanmi Financial Corporation during the first quarter valued at $5,485,000. Bank of New York Mellon Corp boosted its stake in shares of Hanmi Financial Corporation by 27.6% in the first quarter. Bank of New York Mellon Corp now owns 608,774 shares of the bank’s stock valued at $18,720,000 after buying an additional 131,614 shares in the last quarter. State Street Corp boosted its stake in shares of Hanmi Financial Corporation by 11.6% in the first quarter. State Street Corp now owns 1,014,542 shares of the bank’s stock valued at $31,194,000 after buying an additional 105,588 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Hanmi Financial Corporation by 102.7% in the first quarter. First Trust Advisors LP now owns 177,567 shares of the bank’s stock valued at $5,460,000 after buying an additional 89,952 shares in the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hanmi Financial Corporation (HAFC) traded up 1.038% during trading on Friday, hitting $26.775. 73,526 shares of the stock were exchanged. The firm has a 50 day moving average price of $28.34 and a 200 day moving average price of $29.65. The firm has a market capitalization of $859.13 million, a P/E ratio of 15.567 and a beta of 0.79. Hanmi Financial Corporation has a 52 week low of $22.76 and a 52 week high of $35.85.
Hanmi Financial Corporation (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, July 18th. The bank reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $52.88 million for the quarter, compared to analyst estimates of $50.85 million. Hanmi Financial Corporation had a net margin of 24.79% and a return on equity of 10.41%. During the same period in the previous year, the firm posted $0.44 EPS. Analysts forecast that Hanmi Financial Corporation will post $1.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Friday, July 28th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, July 26th. This is a positive change from Hanmi Financial Corporation’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 3.17%. Hanmi Financial Corporation’s payout ratio is 48.28%.
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Several analysts have weighed in on HAFC shares. Zacks Investment Research cut shares of Hanmi Financial Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Hanmi Financial Corporation in a research report on Thursday, April 20th. Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 target price on shares of Hanmi Financial Corporation in a research report on Wednesday, July 12th. Finally, BidaskClub lowered shares of Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.00.
Hanmi Financial Corporation Company Profile
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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