Summit Global Investments Takes $617,000 Position in Hanmi Financial Co. (NASDAQ:HAFC)

Summit Global Investments acquired a new stake in Hanmi Financial Co. (NASDAQ:HAFC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 26,121 shares of the bank's stock, valued at approximately $617,000. Summit Global Investments owned 0.09% of Hanmi Financial as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in 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 in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Hanmi Financial in the 3rd quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Hanmi Financial in the fourth quarter worth approximately $43,000. Versant Capital Management Inc raised its position in Hanmi Financial by 110.7% during the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank's stock valued at $47,000 after acquiring an additional 1,035 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Hanmi Financial by 17.0% in the fourth quarter. New York State Common Retirement Fund now owns 8,257 shares of the bank's stock valued at $195,000 after acquiring an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company's stock.

Hanmi Financial Stock Performance

Shares of Hanmi Financial stock traded down $0.03 during trading on Thursday, reaching $22.86. The company's stock had a trading volume of 137,295 shares, compared to its average volume of 184,164. The business's fifty day moving average price is $23.32 and its 200-day moving average price is $22.84. Hanmi Financial Co. has a one year low of $14.45 and a one year high of $27.59. The firm has a market cap of $690.28 million, a price-to-earnings ratio of 11.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00.

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Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. As a group, equities research analysts predict that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were given a dividend of $0.27 per share. The ex-dividend date was Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.72%. This is a positive change from Hanmi Financial's previous quarterly dividend of $0.25. Hanmi Financial's dividend payout ratio is currently 52.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HAFC shares. DA Davidson restated a "neutral" rating and set a $27.50 target price on shares of Hanmi Financial in a report on Thursday, January 30th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $29.00 target price (up from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.75.

Hanmi Financial Company Profile

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.