Hanmi Financial (NASDAQ:HAFC) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Shares of Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.30 and traded as high as $30.23. Hanmi Financial shares last traded at $30.14, with a volume of 322,552 shares.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. DA Davidson reiterated 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 lowered shares of Hanmi Financial from a "buy" rating to a "hold" rating in a research report on Saturday, January 24th. Piper Sandler raised their price objective on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a "market perform" rating in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.17.

Hanmi Financial Stock Performance

The company's 50-day moving average price is $27.08 and its two-hundred day moving average price is $27.30. The company has a market cap of $896.67 million, a P/E ratio of 11.25 and a beta of 0.73. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its 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. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. The company had revenue of $134.95 million during the quarter, compared to analysts' expectations of $71.40 million. As a group, equities analysts forecast that Hanmi Financial Corporation will post 3.16 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Monday, May 4th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, May 4th. Hanmi Financial's dividend payout ratio (DPR) is presently 41.79%.

Insider Activity at Hanmi Financial

In other Hanmi Financial news, insider Matthew Fuhr sold 3,300 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $30.83, for a total value of $101,739.00. Following the completion of the transaction, the insider directly owned 34,002 shares in the company, valued at $1,048,281.66. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HAFC. Hillsdale Investment Management Inc. acquired a new position in shares of Hanmi Financial in the fourth quarter worth about $7,276,000. Goldman Sachs Group Inc. boosted its holdings 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 worth $21,260,000 after buying an additional 181,509 shares during the period. Rhino Investment Partners Inc boosted its holdings in shares of Hanmi Financial by 27.1% in the third quarter. Rhino Investment Partners Inc now owns 785,756 shares of the bank's stock worth $19,400,000 after buying an additional 167,485 shares during the period. Millennium Management LLC lifted its position in shares of Hanmi Financial by 237.1% in the fourth quarter. Millennium Management LLC now owns 178,125 shares of the bank's stock worth $4,815,000 after purchasing an additional 125,292 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Hanmi Financial by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 322,852 shares of the bank's stock worth $8,727,000 after purchasing an additional 103,300 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.

About Hanmi Financial

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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