Hanmi Financial Corporation $HAFC Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. trimmed its holdings in Hanmi Financial Corporation (NASDAQ:HAFC) by 23.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 205,665 shares of the bank’s stock after selling 63,535 shares during the period. Hillsdale Investment Management Inc. owned 0.69% of Hanmi Financial worth $5,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Hanmi Financial by 30.5% in the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after purchasing an additional 439 shares during the period. EverSource Wealth Advisors LLC grew its position in Hanmi Financial by 343.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after buying an additional 1,764 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Hanmi Financial by 148.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock valued at $60,000 after buying an additional 1,442 shares during the period. SummitTX Capital L.P. purchased a new position in Hanmi Financial during the 4th quarter worth $203,000. Finally, Fifth Third Bancorp lifted its stake in shares of Hanmi Financial by 3,464.6% in the 1st quarter. Fifth Third Bancorp now owns 7,949 shares of the bank’s stock worth $210,000 after acquiring an additional 7,726 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Hanmi Financial Trading Down 0.7%

Shares of Hanmi Financial stock opened at $32.04 on Wednesday. The company has a 50-day moving average of $30.96 and a two-hundred day moving average of $28.62. Hanmi Financial Corporation has a 12-month low of $22.00 and a 12-month high of $33.50. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $953.83 million, a PE ratio of 11.96 and a beta of 0.72.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $134.94 million for the quarter, compared to analyst estimates of $71.40 million. Hanmi Financial had a return on equity of 10.31% and a net margin of 18.05%. On average, research analysts anticipate that Hanmi Financial Corporation will post 3.16 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 4th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a yield of 3.5%. Hanmi Financial’s payout ratio is currently 41.79%.

Insiders Place Their Bets

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the company’s stock in a transaction 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 sale, the insider owned 34,002 shares of the company’s stock, valued at approximately $1,048,281.66. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony I. Kim sold 5,333 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.73, for a total value of $163,883.09. Following the completion of the transaction, the insider owned 41,615 shares of the company’s stock, valued at approximately $1,278,828.95. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. 2.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Capital One Financial set a $32.00 price target on shares of Hanmi Financial in a research note on Thursday, May 28th. Piper Sandler increased their target price on Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised their price target on Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a research note on Wednesday, June 24th. Finally, Brean Capital reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Hanmi Financial in a report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hanmi Financial currently has a consensus rating of “Hold” and an average price target of $32.10.

Hanmi Financial Profile

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.