Hanmi Financial (NASDAQ:HAFC) CAO Sells $13,321.26 in Stock

Hanmi Financial Corporation (NASDAQ:HAFC) CAO Joseph Pangrazio sold 486 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $27.41, for a total value of $13,321.26. Following the completion of the sale, the chief accounting officer directly owned 2,645 shares of the company’s stock, valued at approximately $72,499.45. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Hanmi Financial Stock Performance

HAFC opened at $27.89 on Thursday. The company has a market cap of $835.44 million, a P/E ratio of 11.67 and a beta of 0.75. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $25.74 and its 200-day moving average price is $24.70. Hanmi Financial Corporation has a 52-week low of $19.25 and a 52-week high of $28.38.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. The company had revenue of $70.96 million during the quarter, compared to analysts’ expectations of $67.80 million. As a group, equities analysts anticipate that Hanmi Financial Corporation will post 2.6 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.9%. Hanmi Financial’s payout ratio is 45.19%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday. Zacks Research raised Hanmi Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Wall Street Zen downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Keefe, Bruyette & Woods upped their target price on Hanmi Financial from $29.00 to $30.50 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Hanmi Financial presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Institutional Trading of Hanmi Financial

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in shares of Hanmi Financial by 8,375.5% during the 1st quarter. Russell Investments Group Ltd. now owns 45,598 shares of the bank’s stock valued at $1,033,000 after acquiring an additional 45,060 shares during the period. EP Wealth Advisors LLC purchased a new position in Hanmi Financial during the first quarter worth approximately $258,000. Walleye Capital LLC acquired a new stake in Hanmi Financial in the first quarter valued at approximately $323,000. American Century Companies Inc. increased its position in shares of Hanmi Financial by 10.1% in the first quarter. American Century Companies Inc. now owns 818,831 shares of the bank’s stock valued at $18,555,000 after buying an additional 75,365 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Hanmi Financial by 14.5% in the first quarter. Hsbc Holdings PLC now owns 13,520 shares of the bank’s stock valued at $306,000 after buying an additional 1,709 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.