Key Points
- Insider sale: Matthew Fuhr sold 3,300 shares at an average price of $30.83 for a total of $101,739, trimming his stake by 8.85% to 34,002 shares (approximately $1.05M).
- Quarterly results: Hanmi reported EPS of $0.75 (vs. $0.71 consensus) and revenue of $134.95M, with a PE of 11.59 and a MarketBeat consensus rating of "Hold" (target $32.17).
- $0.28 dividend: The company declared a quarterly dividend of $0.28 (annualized $1.12) with an ex-dividend/record date of May 4 and a payment date of May 20, implying a ~3.6% yield.
Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) insider Matthew Fuhr sold 3,300 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total value of $101,739.00. Following the transaction, the insider directly owned 34,002 shares in the company, valued at approximately $1,048,281.66. This trade represents a 8.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Hanmi Financial Price Performance
Shares of NASDAQ HAFC opened at $31.07 on Wednesday. The business's 50 day moving average price is $26.92 and its two-hundred day moving average price is $27.18. The company has a market cap of $924.33 million, a PE ratio of 11.59 and a beta of 0.68. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. Hanmi Financial Corporation has a twelve month low of $21.84 and a twelve month high of $31.33.
Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%.The firm had revenue of $134.95 million for the quarter, compared to the consensus estimate of $71.40 million. On average, analysts predict that Hanmi Financial Corporation will post 3.13 EPS for the current year.
Hanmi Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 3.6%. Hanmi Financial's dividend payout ratio is presently 41.79%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Hanmi Financial from $31.50 to $32.00 and gave the company a "market perform" rating in a research report on Thursday, April 9th. DA Davidson reaffirmed a "neutral" rating and issued a $29.50 target price on shares of Hanmi Financial in a research report on Thursday, January 29th. Wall Street Zen downgraded Hanmi Financial from a "buy" rating to a "hold" rating in a research report on Saturday, January 24th. Finally, Piper Sandler upped their target price on Hanmi Financial from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $32.17.
View Our Latest Stock Report on HAFC
Institutional Investors Weigh In On Hanmi Financial
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake 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 buying an additional 45,511 shares during the period. State Street Corp boosted its stake in shares of Hanmi Financial by 0.3% in the fourth quarter. State Street Corp now owns 1,349,873 shares of the bank's stock valued at $36,487,000 after buying an additional 4,651 shares during the period. American Century Companies Inc. boosted its stake in shares of Hanmi Financial by 7.0% in the third quarter. American Century Companies Inc. now owns 932,896 shares of the bank's stock valued at $23,033,000 after buying an additional 60,876 shares during the period. Geode Capital Management LLC boosted its stake in shares of Hanmi Financial by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 837,483 shares of the bank's stock valued at $22,641,000 after buying an additional 25,143 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Hanmi Financial by 30.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 786,529 shares of the bank's stock valued at $21,260,000 after buying an additional 181,509 shares during the period. 88.66% of the stock is currently owned by institutional investors.
Hanmi Financial Company Profile
(
Get Free Report)
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.
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