Bank of Montreal Can Reduces Position in Hanmi Financial Corporation (HAFC)
Bank of Montreal Can lowered its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,748 shares of the bank’s stock after selling 8,573 shares during the period. Bank of Montreal Can’s holdings in Hanmi Financial Corporation were worth $2,384,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of HAFC. State of Alaska Department of Revenue increased its position in Hanmi Financial Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 3,570 shares of the bank’s stock worth $109,000 after buying an additional 80 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Hanmi Financial Corporation during the first quarter worth approximately $113,000. Victory Capital Management Inc. purchased a new position in Hanmi Financial Corporation during the first quarter worth approximately $134,000. Highbridge Capital Management LLC purchased a new position in Hanmi Financial Corporation during the fourth quarter worth approximately $214,000. Finally, ClariVest Asset Management LLC increased its position in Hanmi Financial Corporation by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 7,383 shares of the bank’s stock worth $227,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 88.22% of the company’s stock.
Hanmi Financial Corporation (NASDAQ:HAFC) traded down 1.65% during mid-day trading on Friday, reaching $26.80. The company had a trading volume of 44,749 shares. Hanmi Financial Corporation has a 52 week low of $22.78 and a 52 week high of $35.85. The stock has a 50 day moving average of $28.42 and a 200 day moving average of $29.91. The stock has a market capitalization of $859.69 million, a price-to-earnings ratio of 15.58 and a beta of 0.79.
Hanmi Financial Corporation (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, July 18th. The bank reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Hanmi Financial Corporation had a return on equity of 10.41% and a net margin of 24.79%. The business had revenue of $52.88 million for the quarter, compared to analyst estimates of $50.85 million. During the same quarter in the prior year, the company posted $0.44 EPS. Analysts anticipate that Hanmi Financial Corporation will post $1.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, July 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, July 26th. This is an increase from Hanmi Financial Corporation’s previous quarterly dividend of $0.19. Hanmi Financial Corporation’s payout ratio is currently 48.28%.
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A number of research analysts have recently commented on the company. FBR & Co reiterated an “outperform” rating and set a $34.00 target price (down from $39.00) on shares of Hanmi Financial Corporation in a research report on Wednesday, April 19th. Zacks Investment Research upgraded Hanmi Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Hanmi Financial Corporation in a report on Thursday, April 20th. Finally, Piper Jaffray Companies decreased their price target on Hanmi Financial Corporation from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $32.00.
About Hanmi Financial Corporation
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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