Joseph Pangrazio Sells 486 Shares of Hanmi Financial (NASDAQ:HAFC) Stock

Hanmi Financial Corporation (NASDAQ:HAFC) CAO Joseph Pangrazio sold 486 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $27.41, for a total value of $13,321.26. Following the sale, the chief accounting officer owned 2,645 shares of the company’s stock, valued at $72,499.45. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hanmi Financial Price Performance

HAFC stock traded up $0.09 during midday trading on Monday, reaching $27.35. The stock had a trading volume of 53,996 shares, compared to its average volume of 175,307. Hanmi Financial Corporation has a 52-week low of $19.25 and a 52-week high of $27.61. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $25.56 and its 200 day simple moving average is $24.62. The company has a market cap of $819.27 million, a price-to-earnings ratio of 11.44 and a beta of 0.75.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, October 21st. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $70.96 million during the quarter, compared to analyst estimates of $67.80 million. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. As a group, sell-side analysts predict that Hanmi Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Tuesday, November 4th were issued a $0.27 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $1.08 dividend on an annualized basis and a yield of 3.9%. Hanmi Financial’s dividend payout ratio is presently 45.19%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new position in Hanmi Financial in the third quarter worth approximately $7,191,000. LSV Asset Management grew its holdings in shares of Hanmi Financial by 16.4% during the 1st quarter. LSV Asset Management now owns 1,376,791 shares of the bank’s stock worth $31,198,000 after purchasing an additional 193,610 shares during the period. Rhino Investment Partners Inc increased its position in shares of Hanmi Financial by 27.1% during the 3rd quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank’s stock worth $19,400,000 after purchasing an additional 167,485 shares during the last quarter. Nuveen LLC purchased a new stake in Hanmi Financial in the 1st quarter valued at about $2,925,000. Finally, First Trust Advisors LP lifted its position in Hanmi Financial by 240.8% in the third quarter. First Trust Advisors LP now owns 117,241 shares of the bank’s stock valued at $2,895,000 after buying an additional 82,835 shares during the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HAFC has been the topic of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, November 17th. Keefe, Bruyette & Woods lifted their price objective on Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 22nd. Zacks Research raised Hanmi Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen downgraded Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hanmi Financial currently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.