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

Hillsdale Investment Management Inc. purchased a new stake in Hanmi Financial Corporation (NASDAQ:HAFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 269,200 shares of the bank’s stock, valued at approximately $7,276,000. Hillsdale Investment Management Inc. owned 0.90% of Hanmi Financial at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC boosted its stake in Hanmi Financial by 201.7% in the 3rd quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after purchasing an additional 1,198 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Hanmi Financial by 343.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,764 shares during the period. Tower Research Capital LLC TRC boosted its stake in Hanmi Financial by 148.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after purchasing an additional 1,442 shares during the period. Quantbot Technologies LP boosted its stake in Hanmi Financial by 397.2% in the 3rd quarter. Quantbot Technologies LP now owns 8,597 shares of the bank’s stock valued at $212,000 after purchasing an additional 6,868 shares during the period. Finally, Semanteon Capital Management LP bought a new stake in Hanmi Financial in the 3rd quarter valued at $227,000. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $30.12 on Friday. The stock has a fifty day moving average price of $28.52 and a 200-day moving average price of $27.78. The company has a market cap of $896.67 million, a price-to-earnings ratio of 11.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98. Hanmi Financial Corporation has a fifty-two week low of $22.00 and a fifty-two week high of $31.33.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share for the quarter, beating 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 firm had revenue of $134.95 million during the quarter, compared to the consensus estimate of $71.40 million. As a group, equities analysts anticipate that Hanmi Financial Corporation will post 3.16 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

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

Insider Buying and Selling at Hanmi Financial

In related news, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 34,002 shares in the company, valued at $1,048,281.66. This represents a 8.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

About Hanmi Financial

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.