Hanmi Financial (NASDAQ:HAFC) CAO Joseph Pangrazio Sells 486 Shares of Stock

Hanmi Financial Corporation (NASDAQ:HAFC) CAO Joseph Pangrazio sold 486 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $27.41, for a total value of $13,321.26. Following the transaction, the chief accounting officer owned 2,645 shares of the company’s stock, valued at $72,499.45. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $27.23 on Tuesday. Hanmi Financial Corporation has a 1 year low of $19.25 and a 1 year high of $27.61. The firm has a market cap of $815.67 million, a P/E ratio of 11.39 and a beta of 0.75. The stock has a fifty day moving average price of $25.61 and a two-hundred day moving average price of $24.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97.

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

Hanmi Financial Dividend Announcement

The company also recently declared 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 was Tuesday, November 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.0%. Hanmi Financial’s payout ratio is currently 45.19%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanmi Financial in a research report on Monday, November 17th. Wall Street Zen lowered Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Zacks Research upgraded Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in Hanmi Financial by 17.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,672 shares of the bank’s stock worth $66,000 after acquiring an additional 394 shares during the period. Pallas Capital Advisors LLC grew its position in shares of Hanmi Financial by 4.0% in the second quarter. Pallas Capital Advisors LLC now owns 12,957 shares of the bank’s stock valued at $320,000 after purchasing an additional 504 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Hanmi Financial by 15.1% in the second quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock worth $100,000 after purchasing an additional 531 shares during the period. Cerity Partners LLC boosted its stake in Hanmi Financial by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock valued at $908,000 after purchasing an additional 632 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in Hanmi Financial by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,852 shares of the bank’s stock valued at $1,181,000 after purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Company 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.