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

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

Hanmi Financial Trading Up 0.4%

HAFC stock traded up $0.11 on Monday, hitting $30.54. 157,890 shares of the company were exchanged, compared to its average volume of 279,685. Hanmi Financial Corporation has a twelve month low of $22.00 and a twelve month high of $31.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average is $28.93 and its two-hundred day moving average is $27.90. The stock has a market capitalization of $909.18 million, a price-to-earnings ratio of 11.40 and a beta of 0.73.

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

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 3.7%. Hanmi Financial’s dividend payout ratio is presently 41.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HAFC. Keefe, Bruyette & Woods upped their target price on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Brean Capital restated a “neutral” rating and issued a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Piper Sandler upped their target price on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hanmi Financial has an average rating of “Hold” and an average target price of $32.10.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HAFC. Hillsdale Investment Management Inc. bought a new stake in Hanmi Financial in the 4th quarter valued at about $7,276,000. Goldman Sachs Group Inc. lifted its position in Hanmi Financial by 30.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank’s stock valued at $21,260,000 after purchasing an additional 181,509 shares during the last quarter. Rhino Investment Partners Inc lifted its position in Hanmi Financial by 27.1% in the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock valued at $19,400,000 after purchasing an additional 167,485 shares during the last quarter. Millennium Management LLC lifted its position in Hanmi Financial by 237.1% in the 4th quarter. Millennium Management LLC now owns 178,125 shares of the bank’s stock valued at $4,815,000 after purchasing an additional 125,292 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Hanmi Financial by 47.1% in the 4th quarter. Renaissance Technologies LLC now owns 322,852 shares of the bank’s stock valued at $8,727,000 after purchasing an additional 103,300 shares during the last quarter. 88.66% of the stock is currently owned by institutional investors.

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.