Anthony Kim Sells 5,333 Shares of Hanmi Financial (NASDAQ:HAFC) Stock

Hanmi Financial Corporation (NASDAQ:HAFC) insider Anthony Kim sold 5,333 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the sale, the insider owned 41,615 shares of the company’s stock, valued at approximately $1,278,828.95. This trade represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hanmi Financial Trading Up 0.6%

Shares of HAFC stock opened at $30.72 on Wednesday. Hanmi Financial Corporation has a 1 year low of $22.00 and a 1 year high of $31.33. The stock has a market cap of $914.53 million, a P/E ratio of 11.46 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $29.11 and a 200 day simple moving average of $27.97.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. The business had revenue of $134.95 million during the quarter, compared to the consensus estimate of $71.40 million. On average, research analysts predict that Hanmi Financial Corporation will post 3.16 earnings per share for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 4th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, May 4th. Hanmi Financial’s payout ratio is currently 41.79%.

Analysts Set New Price Targets

Several research analysts have commented on HAFC shares. Keefe, Bruyette & Woods boosted their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Piper Sandler boosted their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a research report on Thursday, May 28th. Finally, Brean Capital restated a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its holdings in shares of Hanmi Financial by 2.2% during the first quarter. Illinois Municipal Retirement Fund now owns 15,900 shares of the bank’s stock worth $419,000 after buying an additional 342 shares in the last quarter. Unison Advisors LLC increased its holdings in shares of Hanmi Financial by 1.1% during the fourth quarter. Unison Advisors LLC now owns 32,259 shares of the bank’s stock worth $872,000 after buying an additional 356 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Hanmi Financial by 17.3% during the third quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock worth $66,000 after buying an additional 394 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Hanmi Financial by 30.5% during the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock worth $51,000 after buying an additional 439 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Hanmi Financial by 1.7% during the second quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock worth $908,000 after buying an additional 632 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean?American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium?sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA?guaranteed loans.