Metropolitan Life Insurance Co. NY increased its position in shares of Hanmi Financial Corp (NASDAQ:HAFC) by 356.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,604 shares of the bank’s stock after purchasing an additional 8,281 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Hanmi Financial were worth $209,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Hanmi Financial by 1.1% during the 4th quarter. BlackRock Inc. now owns 4,718,216 shares of the bank’s stock worth $92,948,000 after purchasing an additional 49,045 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Hanmi Financial by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,520,879 shares of the bank’s stock worth $49,661,000 after purchasing an additional 189,382 shares during the period. Vanguard Group Inc. boosted its stake in shares of Hanmi Financial by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,949,089 shares of the bank’s stock worth $48,532,000 after purchasing an additional 30,205 shares during the period. Vanguard Group Inc boosted its stake in shares of Hanmi Financial by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 1,949,089 shares of the bank’s stock worth $48,532,000 after purchasing an additional 30,205 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Hanmi Financial by 11.6% during the 4th quarter. LSV Asset Management now owns 1,513,031 shares of the bank’s stock worth $29,806,000 after purchasing an additional 157,316 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Joseph K. Rho sold 64,499 shares of Hanmi Financial stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $22.32, for a total transaction of $1,439,617.68. Following the completion of the sale, the director now owns 363,538 shares in the company, valued at approximately $8,114,168.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph K. Rho sold 10,496 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.32, for a total transaction of $234,270.72. Following the completion of the sale, the director now owns 376,039 shares of the company’s stock, valued at approximately $8,393,190.48. The disclosure for this sale can be found here. Company insiders own 2.68% of the company’s stock.
Shares of HAFC opened at $22.51 on Monday. Hanmi Financial Corp has a 1-year low of $17.56 and a 1-year high of $31.85. The stock has a market cap of $685.87 million, a P/E ratio of 11.85, a P/E/G ratio of 1.30 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.99.
Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, January 15th. The bank reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Hanmi Financial had a net margin of 22.35% and a return on equity of 10.74%. The company had revenue of $51.95 million for the quarter, compared to the consensus estimate of $51.95 million. During the same quarter in the previous year, the business earned $0.48 EPS. Research analysts forecast that Hanmi Financial Corp will post 2.13 EPS for the current fiscal year.
Hanmi Financial announced that its board has approved a stock repurchase plan on Thursday, January 24th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of research firms recently commented on HAFC. BidaskClub raised shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Zacks Investment Research lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a report on Friday, January 18th. ValuEngine upgraded shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 25th. TheStreet upgraded shares of Hanmi Financial from a “c+” rating to a “b-” rating in a report on Wednesday, February 20th. Finally, Raymond James lowered shares of Hanmi Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.33.
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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. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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