Joseph K. Rho Sells 21,204 Shares of Hanmi Financial Corp (HAFC) Stock

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Hanmi Financial Corp (NASDAQ:HAFC) Director Joseph K. Rho sold 21,204 shares of Hanmi Financial stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $22.79, for a total transaction of $483,239.16. Following the completion of the sale, the director now directly owns 300,839 shares of the company’s stock, valued at $6,856,120.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

HAFC stock opened at $22.37 on Friday. The company has a market capitalization of $691.86 million, a price-to-earnings ratio of 11.65, a PEG ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.97 and a quick ratio of 0.97. Hanmi Financial Corp has a one year low of $17.56 and a one year high of $31.25.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Hanmi Financial had a net margin of 21.65% and a return on equity of 10.71%. The company had revenue of $51.14 million during the quarter, compared to analysts’ expectations of $51.20 million. As a group, sell-side analysts expect that Hanmi Financial Corp will post 2.09 EPS for the current year.

Hanmi Financial announced that its Board of Directors has initiated a stock buyback plan on Thursday, January 24th that authorizes the company to buyback 1,500,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.29%. Hanmi Financial’s dividend payout ratio is presently 50.53%.

Several hedge funds and other institutional investors have recently made changes to their positions in HAFC. Flinton Capital Management LLC grew its stake in shares of Hanmi Financial by 30.3% during the 4th quarter. Flinton Capital Management LLC now owns 5,544 shares of the bank’s stock valued at $109,000 after buying an additional 1,288 shares during the period. Neuburgh Advisers LLC grew its stake in shares of Hanmi Financial by 30.3% during the 4th quarter. Neuburgh Advisers LLC now owns 6,732 shares of the bank’s stock valued at $133,000 after buying an additional 1,564 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Hanmi Financial by 52,675.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,333 shares of the bank’s stock valued at $135,000 after buying an additional 6,321 shares during the period. Anderson Fisher LLC purchased a new stake in shares of Hanmi Financial during the 1st quarter valued at $173,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Hanmi Financial by 356.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,604 shares of the bank’s stock valued at $209,000 after buying an additional 8,281 shares during the period. 90.55% of the stock is owned by institutional investors.

HAFC has been the subject of several recent analyst reports. BidaskClub cut shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Zacks Investment Research cut shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. TheStreet raised shares of Hanmi Financial from a “c+” rating to a “b-” rating in a research note on Wednesday, February 20th. Finally, ValuEngine cut shares of Hanmi Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.33.

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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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