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

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

Hanmi Financial Price Performance

NASDAQ HAFC opened at $30.54 on Tuesday. Hanmi Financial Corporation has a 12 month low of $22.00 and a 12 month high of $31.33. The stock has a market cap of $909.18 million, a price-to-earnings ratio of 11.40 and a beta of 0.73. The company’s 50 day moving average is $29.02 and its two-hundred day moving average is $27.93. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16.

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

Hanmi Financial Dividend Announcement

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

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HAFC shares. Capital One Financial set a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Keefe, Bruyette & Woods increased their price objective 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. Brean Capital reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Finally, Piper Sandler increased their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.10.

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.