R Squared Ltd Takes Position in Hanmi Financial Co. (NASDAQ:HAFC)

R Squared Ltd bought a new stake in shares of Hanmi Financial Co. (NASDAQ:HAFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the bank’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in Hanmi Financial in the third quarter worth $28,000. Versant Capital Management Inc boosted its holdings in Hanmi Financial by 110.7% in the fourth quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock worth $47,000 after acquiring an additional 1,035 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Hanmi Financial in the third quarter worth $49,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after acquiring an additional 1,207 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Hanmi Financial in the second quarter worth $168,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Stock Performance

Shares of HAFC opened at $24.02 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $24.13 and a two-hundred day simple moving average of $21.77. The stock has a market cap of $725.40 million, a price-to-earnings ratio of 11.72 and a beta of 0.89. Hanmi Financial Co. has a 52 week low of $14.45 and a 52 week high of $27.59.

Hanmi Financial (NASDAQ:HAFC) 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 8.69% and a net margin of 14.45%. On average, analysts expect that Hanmi Financial Co. will post 2.28 EPS for the current year.

Hanmi Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Monday, February 10th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, February 10th. This represents a $1.08 annualized dividend and a dividend yield of 4.50%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. Hanmi Financial’s dividend payout ratio (DPR) is currently 48.78%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HAFC. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. DA Davidson reaffirmed a “neutral” rating and set a $27.50 price target on shares of Hanmi Financial in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a report on Wednesday, October 23rd. Finally, Janney Montgomery Scott raised Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Hanmi Financial currently has an average rating of “Hold” and an average 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.