Hanmi Financial Corp (NASDAQ:HAFC) Director Joseph K. Rho sold 21,204 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $22.79, for a total transaction of $483,239.16. Following the completion of the transaction, the director now owns 300,839 shares in the company, valued at approximately $6,856,120.81. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
HAFC traded down $0.46 on Friday, reaching $22.37. The company had a trading volume of 129,500 shares, compared to its average volume of 187,318. Hanmi Financial Corp has a fifty-two week low of $17.56 and a fifty-two week high of $31.25. The firm has a market cap of $702.68 million, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 0.97.
Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. The business had revenue of $51.14 million for the quarter, compared to analyst estimates of $51.20 million. Hanmi Financial had a net margin of 21.65% and a return on equity of 10.71%. As a group, equities analysts forecast that Hanmi Financial Corp will post 2.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Friday, May 3rd. Hanmi Financial’s dividend payout ratio is currently 50.53%.
Hanmi Financial announced that its board has initiated a share buyback plan on Thursday, January 24th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts recently commented on HAFC shares. TheStreet upgraded shares of Hanmi Financial from a “c+” rating to a “b-” rating in a research note on Wednesday, February 20th. BidaskClub upgraded shares of Hanmi Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. Finally, ValuEngine upgraded shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.33.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in Hanmi Financial by 6.5% in the 1st quarter. FMR LLC now owns 2,561,110 shares of the bank’s stock valued at $54,475,000 after purchasing an additional 155,428 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Hanmi Financial by 29.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 257,106 shares of the bank’s stock valued at $5,469,000 after purchasing an additional 58,550 shares during the period. SEI Investments Co bought a new stake in Hanmi Financial in the 1st quarter valued at about $434,000. Goldman Sachs Group Inc. boosted its holdings in Hanmi Financial by 19.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 282,783 shares of the bank’s stock valued at $6,015,000 after purchasing an additional 45,089 shares during the period. Finally, Pinebridge Investments L.P. boosted its holdings in Hanmi Financial by 270.2% in the 1st quarter. Pinebridge Investments L.P. now owns 66,562 shares of the bank’s stock valued at $1,415,000 after purchasing an additional 48,584 shares during the period. 90.55% of the stock is owned by hedge funds and other institutional investors.
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Hanmi Financial Company Profile
Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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