Elizabeth Park Capital Advisors Ltd. Takes Position in Hanmi Financial Corporation $HAFC

Elizabeth Park Capital Advisors Ltd. bought a new stake in Hanmi Financial Corporation (NASDAQ:HAFC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 83,720 shares of the bank’s stock, valued at approximately $2,263,000. Hanmi Financial makes up about 1.9% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 28th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Hanmi Financial by 30.5% during the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock worth $51,000 after purchasing an additional 439 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Hanmi Financial by 343.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock worth $56,000 after purchasing an additional 1,764 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Hanmi Financial by 148.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after purchasing an additional 1,442 shares in the last quarter. Quantbot Technologies LP raised its holdings in Hanmi Financial by 397.2% during the third quarter. Quantbot Technologies LP now owns 8,597 shares of the bank’s stock worth $212,000 after purchasing an additional 6,868 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new position in Hanmi Financial during the third quarter worth about $227,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Stock Down 1.7%

HAFC stock opened at $30.74 on Thursday. The company’s 50 day simple moving average is $29.68 and its 200-day simple moving average is $28.12. The firm has a market capitalization of $915.13 million, a PE ratio of 11.47 and a beta of 0.72. Hanmi Financial Corporation has a 12 month low of $22.00 and a 12 month high of $31.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $134.95 million for the quarter, compared to analyst estimates of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. Equities analysts expect that Hanmi Financial Corporation will post 3.16 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th were given a $0.28 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 3.6%. Hanmi Financial’s dividend payout ratio is currently 41.79%.

Wall Street Analyst Weigh In

HAFC has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Piper Sandler increased their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Brean Capital restated a “neutral” rating and set a $32.00 target price on shares of Hanmi Financial in a research report on Thursday, May 28th. Finally, Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $32.10.

Insider Activity at Hanmi Financial

In related news, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the transaction, the insider owned 34,002 shares of the company’s stock, valued at approximately $1,048,281.66. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony I. Kim sold 5,333 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.73, for a total transaction of $163,883.09. Following the transaction, the insider directly owned 41,615 shares in the company, valued at $1,278,828.95. The trade was a 11.36% decrease in their position. The SEC filing for this sale provides additional information. 2.12% of the stock is owned by corporate insiders.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.