Teacher Retirement System of Texas Acquires Shares of 69,954 Hanmi Financial Co. (NASDAQ:HAFC)

Teacher Retirement System of Texas bought a new position in Hanmi Financial Co. (NASDAQ:HAFC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 69,954 shares of the bank’s stock, valued at approximately $1,652,000. Teacher Retirement System of Texas owned 0.23% of Hanmi Financial as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Hanmi Financial by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock worth $25,000 after buying an additional 747 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Hanmi Financial during the 3rd quarter worth about $28,000. R Squared Ltd bought a new position in Hanmi Financial during the 4th quarter valued at about $43,000. Versant Capital Management Inc grew its holdings in Hanmi Financial by 110.7% during the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,035 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Hanmi Financial by 17.0% in the 4th quarter. New York State Common Retirement Fund now owns 8,257 shares of the bank’s stock worth $195,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Stock Down 0.1 %

Shares of NASDAQ:HAFC opened at $22.86 on Friday. The business’s 50 day moving average is $23.33 and its 200 day moving average is $22.84. The stock has a market cap of $690.28 million, a P/E ratio of 11.15 and a beta of 0.87. Hanmi Financial Co. has a 52-week low of $14.45 and a 52-week high of $27.59. The company has a quick ratio of 0.99, a current ratio of 1.00 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 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. Sell-side analysts predict that Hanmi Financial Co. will post 2.6 EPS for the current year.

Hanmi Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.72%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. Hanmi Financial’s dividend payout ratio (DPR) is presently 52.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HAFC. DA Davidson reaffirmed a “neutral” rating and set a $27.50 target price on shares of Hanmi Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price objective (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.75.

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.