Summit Global Investments Takes Position in Hanmi Financial Co. (NASDAQ:HAFC)

Summit Global Investments purchased a new stake in Hanmi Financial Co. (NASDAQ:HAFC) in the fourth quarter, Holdings Channel reports. The firm purchased 26,121 shares of the bank’s stock, valued at approximately $617,000.

Other large investors have also made changes to their positions in the company. Intech Investment Management LLC grew its holdings in Hanmi Financial by 1.1% in the 3rd quarter. Intech Investment Management LLC now owns 37,706 shares of the bank’s stock valued at $701,000 after buying an additional 414 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Hanmi Financial by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock valued at $25,000 after purchasing an additional 747 shares during the period. Savant Capital LLC grew its holdings in shares of Hanmi Financial by 4.4% in the fourth quarter. Savant Capital LLC now owns 18,243 shares of the bank’s stock valued at $431,000 after purchasing an additional 776 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hanmi Financial by 1.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,303 shares of the bank’s stock valued at $1,944,000 after purchasing an additional 877 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Hanmi Financial by 110.7% in the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,035 shares during the period. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Trading Up 1.6 %

HAFC opened at $22.46 on Monday. The business has a fifty day simple moving average of $23.29 and a 200-day simple moving average of $22.78. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59. The firm has a market cap of $678.20 million, a P/E ratio of 10.96 and a beta of 0.87. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. On average, equities analysts expect that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were paid a $0.27 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.81%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s payout ratio is currently 52.68%.

Analyst Ratings Changes

HAFC has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. DA Davidson reiterated a “neutral” rating and issued a $27.50 price objective on shares of Hanmi Financial in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.75.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.