Rhino Investment Partners Inc Buys 41,008 Shares of Hanmi Financial Corporation $HAFC

Rhino Investment Partners Inc increased its stake in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 4.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 881,957 shares of the bank’s stock after acquiring an additional 41,008 shares during the period. Hanmi Financial comprises approximately 6.5% of Rhino Investment Partners Inc’s investment portfolio, making the stock its 3rd largest holding. Rhino Investment Partners Inc’s holdings in Hanmi Financial were worth $23,248,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after purchasing an additional 45,511 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Hanmi Financial by 287.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 83,475 shares of the bank’s stock worth $2,257,000 after purchasing an additional 61,928 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Hanmi Financial in the 4th quarter valued at approximately $2,263,000. Legato Capital Management LLC acquired a new stake in shares of Hanmi Financial in the 4th quarter valued at approximately $467,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Hanmi Financial in the fourth quarter valued at $7,276,000. 88.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hanmi Financial

In other news, insider Anthony I. Kim sold 5,333 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the transaction, the insider directly owned 41,615 shares of the company’s stock, valued at $1,278,828.95. This represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a report on Wednesday, June 24th. DA Davidson increased their price target on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Piper Sandler lifted their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a research note on Thursday, May 28th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. 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, the company has an average rating of “Hold” and an average price target of $33.00.

Hanmi Financial Stock Performance

HAFC opened at $31.82 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Hanmi Financial Corporation has a 12-month low of $22.00 and a 12-month high of $33.50. The business has a 50 day moving average of $31.46 and a 200-day moving average of $28.95. The stock has a market cap of $947.15 million, a price-to-earnings ratio of 10.71 and a beta of 0.72.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%.The business had revenue of $72.21 million for the quarter, compared to analyst estimates of $74.03 million. On average, equities research analysts expect that Hanmi Financial Corporation will post 3.18 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, August 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, August 3rd. Hanmi Financial’s payout ratio is currently 37.71%.

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.