Zebra Capital Management LLC Has $479,000 Stake in Hanmi Financial Corp (HAFC)
Zebra Capital Management LLC reduced its stake in shares of Hanmi Financial Corp (NASDAQ:HAFC) by 19.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,883 shares of the bank’s stock after selling 4,170 shares during the quarter. Zebra Capital Management LLC owned 0.05% of Hanmi Financial worth $479,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in Hanmi Financial by 5.4% in the second quarter. Macquarie Group Ltd. now owns 50,500 shares of the bank’s stock valued at $1,432,000 after buying an additional 2,600 shares in the last quarter. Barclays PLC boosted its stake in Hanmi Financial by 27.7% in the first quarter. Barclays PLC now owns 12,222 shares of the bank’s stock valued at $376,000 after buying an additional 2,653 shares in the last quarter. Swiss National Bank boosted its stake in shares of Hanmi Financial by 5.2% during the first quarter. Swiss National Bank now owns 56,500 shares of the bank’s stock valued at $1,737,000 after purchasing an additional 2,800 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Hanmi Financial by 45.4% during the first quarter. Xact Kapitalforvaltning AB now owns 9,609 shares of the bank’s stock valued at $295,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Hanmi Financial by 5.9% during the second quarter. Legal & General Group Plc now owns 63,952 shares of the bank’s stock valued at $1,821,000 after purchasing an additional 3,539 shares in the last quarter. 88.53% of the stock is currently owned by institutional investors.
In related news, Director John J. Ahn acquired 4,000 shares of the stock in a transaction dated Friday, July 27th. The stock was bought at an average cost of $24.90 per share, for a total transaction of $99,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.68% of the company’s stock.
Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, July 24th. The bank reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.06). Hanmi Financial had a net margin of 22.68% and a return on equity of 10.76%. The firm had revenue of $51.06 million for the quarter, compared to analyst estimates of $55.13 million. equities analysts predict that Hanmi Financial Corp will post 1.96 EPS for the current year.
Hanmi Financial declared that its Board of Directors has initiated a share buyback program on Thursday, August 30th that authorizes the company to buyback 1,600,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 30th. Stockholders of record on Thursday, August 9th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, August 8th. Hanmi Financial’s payout ratio is 53.04%.
A number of brokerages have recently commented on HAFC. BidaskClub lowered Hanmi Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 13th. ValuEngine raised Hanmi Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 18th. FIG Partners raised Hanmi Financial from a “market-perform” rating to an “outperform” rating in a research note on Monday, May 21st. Zacks Investment Research raised Hanmi Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 24th. Finally, Raymond James cut their price target on Hanmi Financial from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $30.25.
Hanmi Financial Company Profile
Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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