State Board of Administration of Florida Retirement System Raises Stake in Hanmi Financial Co. (NASDAQ:HAFC)

State Board of Administration of Florida Retirement System raised its stake in Hanmi Financial Co. (NASDAQ:HAFCGet Rating) by 18.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,944 shares of the bank’s stock after buying an additional 3,238 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Hanmi Financial were worth $470,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HAFC. Captrust Financial Advisors grew its holdings in Hanmi Financial by 64.7% in the 1st quarter. Captrust Financial Advisors now owns 4,632 shares of the bank’s stock valued at $114,000 after buying an additional 1,819 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Hanmi Financial in the 2nd quarter valued at $219,000. KBC Group NV purchased a new stake in Hanmi Financial in the 1st quarter valued at $240,000. Watershed Asset Management L.L.C. grew its holdings in Hanmi Financial by 9.5% in the 2nd quarter. Watershed Asset Management L.L.C. now owns 11,144 shares of the bank’s stock valued at $250,000 after buying an additional 970 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Hanmi Financial by 62.0% in the 2nd quarter. SG Americas Securities LLC now owns 12,136 shares of the bank’s stock valued at $272,000 after buying an additional 4,643 shares in the last quarter. 90.53% of the stock is currently owned by hedge funds and other institutional investors.

Hanmi Financial Stock Performance

NASDAQ HAFC opened at $26.08 on Friday. The stock has a fifty day simple moving average of $25.12 and a 200-day simple moving average of $24.23. Hanmi Financial Co. has a twelve month low of $21.29 and a twelve month high of $28.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38. The stock has a market cap of $795.18 million, a PE ratio of 7.49 and a beta of 1.02.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Friday, November 4th. Hanmi Financial’s payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Hanmi Financial to $26.00 in a report on Tuesday, November 1st. StockNews.com assumed coverage on Hanmi Financial in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, DA Davidson increased their price target on Hanmi Financial to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th.

Hanmi Financial Profile

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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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Institutional Ownership by Quarter for Hanmi Financial (NASDAQ:HAFC)

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