Magnetar Financial LLC Buys Shares of 9,405 Hanmi Financial Co. (NASDAQ:HAFC)

Magnetar Financial LLC purchased a new position in shares of Hanmi Financial Co. (NASDAQ:HAFC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,405 shares of the bank’s stock, valued at approximately $222,000.

A number of other hedge funds have also made changes to their positions in HAFC. Victory Capital Management Inc. boosted its stake in Hanmi Financial by 85.0% during the 3rd quarter. Victory Capital Management Inc. now owns 24,435 shares of the bank’s stock valued at $454,000 after acquiring an additional 11,230 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of 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 purchasing an additional 414 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Hanmi Financial by 60.1% during the third quarter. Cerity Partners LLC now owns 34,910 shares of the bank’s stock worth $649,000 after purchasing an additional 13,109 shares during the last quarter. FMR LLC grew its stake in Hanmi Financial by 26.1% in the third quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after purchasing an additional 182,164 shares in the last quarter. Finally, PEAK6 Investments LLC acquired a new position in Hanmi Financial in the third quarter valued at approximately $309,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

HAFC has been the topic of a number of research 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 report on Wednesday, December 4th. DA Davidson reiterated a “neutral” rating and issued a $27.50 target price on shares of Hanmi Financial in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.75.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $22.46 on Monday. Hanmi Financial Co. has a 12-month low of $14.45 and a 12-month high of $27.59. The company has a market cap of $678.20 million, a PE ratio of 10.96 and a beta of 0.87. The stock has a 50 day simple moving average of $23.29 and a 200-day simple moving average of $22.78. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share (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%. On average, equities research analysts forecast that Hanmi Financial Co. will post 2.6 EPS for the current year.

Hanmi Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were paid a dividend of $0.27 per share. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. This represents a $1.08 annualized dividend and a yield of 4.81%. Hanmi Financial’s dividend payout ratio (DPR) is presently 52.68%.

Hanmi Financial 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.