Insider Selling: Hanmi Financial (NASDAQ:HAFC) Insider Sells $163,883.09 in Stock

Hanmi Financial Corporation (NASDAQ:HAFC) insider Anthony Kim sold 5,333 shares of Hanmi Financial stock in a transaction dated 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 owned 41,615 shares in the company, valued at approximately $1,278,828.95. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hanmi Financial Trading Up 1.6%

HAFC stock opened at $31.21 on Thursday. 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 Corporation has a 12-month low of $22.00 and a 12-month high of $31.33. The stock has a market cap of $929.12 million, a price-to-earnings ratio of 11.65 and a beta of 0.72. The business’s 50-day moving average is $29.21 and its 200 day moving average is $28.00.

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

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were issued a $0.28 dividend. 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 presently 41.79%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Hanmi Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock worth $59,513,000 after purchasing an additional 45,511 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hanmi Financial by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock valued at $46,416,000 after buying an additional 56,102 shares during the period. State Street Corp raised its position in shares of Hanmi Financial by 0.3% during the 4th quarter. State Street Corp now owns 1,349,873 shares of the bank’s stock valued at $36,487,000 after buying an additional 4,651 shares during the period. American Century Companies Inc. raised its position in shares of Hanmi Financial by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 932,896 shares of the bank’s stock valued at $23,033,000 after buying an additional 60,876 shares during the period. Finally, Rhino Investment Partners Inc raised its position in shares of Hanmi Financial by 4.9% during the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock valued at $23,248,000 after buying an additional 41,008 shares during the period. 88.66% of the stock is currently owned by institutional investors and hedge funds.

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.