Hanmi Financial Corporation $HAFC Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. trimmed its holdings in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 23.6% in the first quarter, HoldingsChannel reports. The firm owned 205,665 shares of the bank’s stock after selling 63,535 shares during the period. Hillsdale Investment Management Inc.’s holdings in Hanmi Financial were worth $5,421,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Hanmi Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,201,736 shares of the bank’s stock valued at $59,513,000 after acquiring an additional 45,511 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Hanmi Financial by 287.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 83,475 shares of the bank’s stock worth $2,257,000 after purchasing an additional 61,928 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new position in Hanmi Financial in the 4th quarter valued at about $2,263,000. Legato Capital Management LLC acquired a new position in Hanmi Financial in the 4th quarter valued at about $467,000. Finally, Horizon Investments LLC purchased a new position in Hanmi Financial in the 4th quarter valued at about $582,000. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hanmi Financial

In other Hanmi Financial news, insider Anthony I. Kim sold 5,333 shares of the 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 owned 41,615 shares of the company’s stock, valued at $1,278,828.95. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthew Fuhr sold 3,300 shares of Hanmi Financial stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total transaction of $101,739.00. Following the completion of the transaction, the insider owned 34,002 shares in the company, valued at approximately $1,048,281.66. This trade represents a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HAFC shares. Piper Sandler raised their price target 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 price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Brean Capital reissued a “neutral” rating and issued a $32.00 price objective on shares of Hanmi Financial in a research 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. Finally, Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research report on Thursday, May 28th. Two research 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, Hanmi Financial currently has an average rating of “Hold” and a consensus target price of $32.10.

Hanmi Financial Stock Down 0.7%

Shares of NASDAQ:HAFC opened at $32.04 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $953.83 million, a price-to-earnings ratio of 11.96 and a beta of 0.72. The stock’s 50-day moving average price is $30.96 and its two-hundred day moving average price is $28.62. Hanmi Financial Corporation has a 12-month low of $22.00 and a 12-month high of $33.50.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, beating 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 $134.94 million during the quarter, compared to the consensus estimate of $71.40 million. On average, research analysts forecast that Hanmi Financial Corporation will post 3.16 EPS for the current year.

Hanmi Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a yield of 3.5%. Hanmi Financial’s dividend payout ratio is 41.79%.

Hanmi Financial 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.