Hillsdale Investment Management Inc. Makes New Investment in Hanmi Financial Corporation $HAFC

Hillsdale Investment Management Inc. bought a new position in Hanmi Financial Corporation (NASDAQ:HAFC) in the fourth quarter, HoldingsChannel reports. The fund bought 269,200 shares of the bank’s stock, valued at approximately $7,276,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Unison Advisors LLC increased its holdings in Hanmi Financial by 1.1% in the 4th quarter. Unison Advisors LLC now owns 32,259 shares of the bank’s stock worth $872,000 after purchasing an additional 356 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Hanmi Financial by 17.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock worth $66,000 after purchasing an additional 394 shares in the last quarter. Cerity Partners LLC increased its holdings in Hanmi Financial by 1.7% in the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock worth $908,000 after purchasing an additional 632 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hanmi Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock worth $405,000 after purchasing an additional 780 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in Hanmi Financial by 3.3% in the 3rd quarter. Savant Capital LLC now owns 24,481 shares of the bank’s stock worth $604,000 after purchasing an additional 781 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HAFC. Brean Capital reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Hanmi Financial in a report on Thursday. Piper Sandler upped their target price on Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods upped their target price on Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Finally, Capital One Financial set a $32.00 target price on Hanmi Financial in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.10.

Hanmi Financial Price Performance

Shares of HAFC opened at $30.12 on Friday. Hanmi Financial Corporation has a 1 year low of $22.00 and a 1 year high of $31.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $896.67 million, a price-to-earnings ratio of 11.24 and a beta of 0.73. The business has a 50-day moving average of $28.52 and a 200-day moving average of $27.78.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The company had revenue of $134.95 million during the quarter, compared to the consensus estimate of $71.40 million. As a group, equities research analysts anticipate that Hanmi Financial Corporation will post 3.16 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Hanmi Financial’s dividend payout ratio (DPR) is 41.79%.

Insider Activity

In other news, insider Matthew Fuhr sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the completion of the transaction, the insider directly owned 34,002 shares in the company, valued at $1,048,281.66. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is owned by company 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.