Key Points
- Hanmi Financial's CAO Joseph Pangrazio sold 486 shares on Nov. 24 at an average price of $27.41 for $13,321, cutting his stake by 15.52% to 2,645 shares valued around $72,499.
- The bank topped quarterly estimates with EPS of $0.73 versus $0.66 expected and revenue of $70.96M (vs. $67.8M), reporting a net margin of 16.53% and a return on equity of 9.59%.
- Hanmi declared a $0.27 quarterly dividend (annualized $1.08) that yields about 4.0% and carries a payout ratio of 45.19%.
Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) CAO Joseph Pangrazio sold 486 shares of the company's stock in a transaction on Monday, November 24th. The shares were sold at an average price of $27.41, for a total value of $13,321.26. Following the completion of the transaction, 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 is available through this hyperlink.
Hanmi Financial Stock Down 0.1%
HAFC opened at $27.23 on Tuesday. Hanmi Financial Corporation has a fifty-two week low of $19.25 and a fifty-two week high of $27.61. The company has a market capitalization of $815.67 million, a P/E ratio of 11.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.97. The firm's fifty day moving average price is $25.61 and its two-hundred day moving average price is $24.65.
Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The bank reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. The firm had revenue of $70.96 million during the quarter, compared to analysts' expectations of $67.80 million. Hanmi Financial had a net margin of 16.53% and a return on equity of 9.59%. On average, analysts anticipate that Hanmi Financial Corporation will post 2.6 EPS for the current year.
Hanmi Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Tuesday, November 4th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, November 4th. Hanmi Financial's dividend payout ratio (DPR) is currently 45.19%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on HAFC shares. Wall Street Zen cut shares of Hanmi Financial from a "buy" rating to a "hold" rating in a research note on Sunday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Hanmi Financial in a research report on Monday, November 17th. Keefe, Bruyette & Woods boosted their price objective on Hanmi Financial from $29.00 to $30.50 and gave the stock a "market perform" rating in a research note on Wednesday, October 22nd. Finally, Zacks Research upgraded Hanmi Financial from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 23rd. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $28.50.
Check Out Our Latest Research Report on Hanmi Financial
Hedge Funds Weigh In On Hanmi Financial
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP lifted its stake in shares of Hanmi Financial by 114.3% in the 1st quarter. Quarry LP now owns 1,830 shares of the bank's stock valued at $41,000 after purchasing an additional 976 shares during the period. US Bancorp DE bought a new stake in Hanmi Financial in the first quarter valued at about $42,000. AlphaQuest LLC increased its holdings in Hanmi Financial by 201.7% in the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank's stock valued at $44,000 after purchasing an additional 1,198 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Hanmi Financial by 343.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank's stock worth $56,000 after buying an additional 1,764 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Hanmi Financial by 148.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank's stock worth $60,000 after buying an additional 1,442 shares during the last quarter. 88.66% of the stock is owned by institutional investors.
About Hanmi Financial
(
Get Free Report)
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.
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