Stieven Capital Advisors L.P. Buys 97,500 Shares of Hanmi Financial Co. (NASDAQ:HAFC)

Stieven Capital Advisors L.P. lifted its holdings in Hanmi Financial Co. (NASDAQ:HAFC) by 20.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 571,053 shares of the bank’s stock after buying an additional 97,500 shares during the period. Hanmi Financial makes up about 2.0% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 20th biggest holding. Stieven Capital Advisors L.P.’s holdings in Hanmi Financial were worth $10,622,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Hanmi Financial in the 3rd quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Hanmi Financial by 47.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after buying an additional 1,207 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of Hanmi Financial by 278.4% in the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock worth $135,000 after buying an additional 6,242 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Hanmi Financial in the 2nd quarter worth about $168,000. Finally, Entropy Technologies LP purchased a new position in shares of Hanmi Financial during the 1st quarter worth about $171,000. 88.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HAFC has been the subject of a number of recent analyst reports. Janney Montgomery Scott raised shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. DA Davidson lifted their price target on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Hanmi Financial Price Performance

Hanmi Financial stock opened at $25.65 on Friday. The stock has a market cap of $774.63 million, a price-to-earnings ratio of 12.33 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial Co. has a 1 year low of $14.45 and a 1 year high of $26.30. The firm has a 50-day moving average of $20.87 and a two-hundred day moving average of $18.58.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The company had revenue of $108.86 million during the quarter, compared to analysts’ expectations of $59.23 million. During the same period in the previous year, the company earned $0.62 EPS. On average, research analysts forecast that Hanmi Financial Co. will post 2 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be given a $0.25 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.90%. Hanmi Financial’s payout ratio is presently 48.08%.

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.