Hanmi Financial Corporation (NASDAQ:HAFC – Get Free Report) insider Anthony Kim sold 5,333 shares of Hanmi Financial stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $30.73, for a total transaction 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. This represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Hanmi Financial Stock Performance
NASDAQ:HAFC traded up $0.11 during mid-day trading on Monday, hitting $30.54. The stock had a trading volume of 157,890 shares, compared to its average volume of 279,685. The stock has a market capitalization of $909.18 million, a price-to-earnings ratio of 11.40 and a beta of 0.73. The company has a 50 day simple moving average of $28.93 and a 200-day simple moving average of $27.90. Hanmi Financial Corporation has a 52 week low of $22.00 and a 52 week high of $31.33. 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 – Get Free Report) last released its earnings results on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The firm had revenue of $134.95 million for the quarter, compared to analysts’ expectations of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. On average, research analysts expect that Hanmi Financial Corporation will post 3.16 earnings per share for the current fiscal year.
Hanmi Financial Announces Dividend
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Keefe, Bruyette & Woods raised 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 reissued a “neutral” rating and set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research note on Thursday, May 28th. Finally, Piper Sandler raised 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. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hanmi Financial has a consensus rating of “Hold” and an average target price of $32.10.
Check Out Our Latest Stock Analysis on HAFC
Hedge Funds Weigh In On Hanmi Financial
Several hedge funds have recently made changes to their positions in the business. Segall Bryant & Hamill LLC acquired a new position in shares of Hanmi Financial in the 1st quarter worth approximately $1,615,000. Bank of America Corp DE grew its stake in shares of Hanmi Financial by 23.2% in the 1st quarter. Bank of America Corp DE now owns 120,766 shares of the bank’s stock worth $3,183,000 after purchasing an additional 22,726 shares during the last quarter. Amundi acquired a new position in shares of Hanmi Financial in the 1st quarter worth approximately $312,000. Royal Bank of Canada grew its stake in shares of Hanmi Financial by 85.4% in the 1st quarter. Royal Bank of Canada now owns 3,486 shares of the bank’s stock worth $92,000 after purchasing an additional 1,606 shares during the last quarter. Finally, Rhino Investment Partners Inc grew its stake in shares of Hanmi Financial by 4.9% in the 1st quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock worth $23,248,000 after purchasing an additional 41,008 shares during the last quarter. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than Hanmi Financial
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Receive News & Ratings for Hanmi Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial and related companies with MarketBeat.com's FREE daily email newsletter.
