Hanmi Financial (NASDAQ:HAFC) Insider Sells $101,739.00 in Stock

Hanmi Financial Corporation (NASDAQ:HAFC) insider Matthew Fuhr sold 3,300 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the sale, the insider directly owned 34,002 shares in the company, valued at $1,048,281.66. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $29.91 on Friday. The firm’s 50-day moving average price is $27.02 and its 200-day moving average price is $27.22. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $889.91 million, a PE ratio of 11.16 and a beta of 0.68. Hanmi Financial Corporation has a 52-week low of $21.84 and a 52-week high of $31.33.

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

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, May 4th. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.79%.

Hedge Funds Weigh In On Hanmi Financial

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in Hanmi Financial during the first quarter valued at approximately $223,000. Louisiana State Employees Retirement System bought a new stake in shares of Hanmi Financial during the first quarter valued at approximately $345,000. SG Americas Securities LLC raised its position in shares of Hanmi Financial by 33.1% during the first quarter. SG Americas Securities LLC now owns 15,484 shares of the bank’s stock valued at $408,000 after buying an additional 3,852 shares during the last quarter. Evolve Private Wealth LLC increased its position in Hanmi Financial by 4.6% in the first quarter. Evolve Private Wealth LLC now owns 26,606 shares of the bank’s stock worth $701,000 after purchasing an additional 1,171 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Hanmi Financial in the fourth quarter worth $234,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HAFC. DA Davidson reaffirmed a “neutral” rating and set a $29.50 price target on shares of Hanmi Financial in a report on Thursday, January 29th. Wall Street Zen downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Piper Sandler raised their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.17.

About Hanmi Financial

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.