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| Pick Up This Bargain 7.1% Yielder Even Cheaper Than Director Chung DidBy Dividend Channel Staff, Tuesday, May 9, 10:26 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 4, Hanmi Financial Corp.'s Director, Harry Chung, invested $42,195.00 into 3,000 shares of HAFC, for a cost per share of $14.06. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Hanmi Financial Corp. (NASDAQ:HAFC) and achieve a cost basis even cheaper than Chung, with shares changing hands as low as $14.06 per share. It should be noted that Chung has collected $0.25/share in dividends since the time of their purchase, so they are currently up 1.7% on their purchase from a total return basis. Hanmi Financial Corp. shares are currently trading off about 0.1% on the day. The chart below shows the one year performance of HAFC shares, versus its 200 day moving average:
Looking at the chart above, HAFC's low point in its 52 week range is $13.35 per share, with $27.35 as the 52 week high point — that compares with a last trade of $14.19. By comparison, below is a table showing the prices at which HAFC insider buying was recorded over the last six months:
The current annualized dividend paid by Hanmi Financial Corp. is $1/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/05/2023. Below is a long-term dividend history chart for HAFC, which can be of good help in judging whether the most recent dividend with approx. 7.1% annualized yield is likely to continue.
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