Hanmi Financial (NASDAQ:HAFC) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Hanmi Financial Corporation (NASDAQ:HAFC) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.51 and traded as high as $32.13. Hanmi Financial shares last traded at $31.60, with a volume of 201,107 shares traded.

Wall Street Analysts Forecast Growth

HAFC has been the topic of several recent research reports. Brean Capital restated a “neutral” rating and set a $32.00 price target on shares of Hanmi Financial in a report on Thursday, May 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Hanmi Financial in a research note on Wednesday, June 24th. Piper Sandler raised their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods boosted their target price on Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Finally, Capital One Financial set a $32.00 price target on Hanmi Financial in a report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Hanmi Financial presently has an average rating of “Hold” and an average target price of $32.10.

Hanmi Financial Stock Down 1.8%

The company has a market cap of $940.73 million, a P/E ratio of 11.79 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98. The business’s fifty day moving average is $30.81 and its two-hundred day moving average is $28.51.

Hanmi Financial (NASDAQ:HAFC) last issued 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 business had revenue of $134.94 million for the quarter, compared to the consensus estimate of $71.40 million. Equities analysts predict that Hanmi Financial Corporation will post 3.16 EPS for the current year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 4th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, May 4th. Hanmi Financial’s dividend payout ratio (DPR) is presently 41.79%.

Insider Buying and Selling at Hanmi Financial

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the sale, the insider directly owned 41,615 shares in the company, valued at approximately $1,278,828.95. This represents a 11.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Fuhr sold 3,300 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total value of $101,739.00. Following the transaction, the insider directly owned 34,002 shares in the company, valued at $1,048,281.66. The trade was a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund boosted its stake 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 valued at $419,000 after purchasing an additional 342 shares in the last quarter. Unison Advisors LLC increased its holdings in shares of Hanmi Financial by 1.1% in the 4th quarter. Unison Advisors LLC now owns 32,259 shares of the bank’s stock valued at $872,000 after acquiring an additional 356 shares during the period. Royal Bank of Canada raised its position in shares of Hanmi Financial by 30.5% in the 4th quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock worth $51,000 after acquiring an additional 439 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Hanmi Financial by 22.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock worth $81,000 after acquiring an additional 456 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Hanmi Financial by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 36,771 shares of the bank’s stock worth $908,000 after purchasing an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

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.