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Here is What Hedge Funds Think About Hanmi Financial Corp (HAFC)

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Should Hanmi Financial Corp (NASDAQ:HAFC) investors track the following data?

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Just as necessary, bullish insider trading sentiment is another way to look at the world of equities. There are lots of reasons for an upper level exec to downsize shares of his or her company, but only one, very obvious reason why they would buy. Various empirical studies have demonstrated the impressive potential of this tactic if piggybackers know what to do (learn more here).

Thus, let’s discuss the newest info surrounding Hanmi Financial Corp (NASDAQ:HAFC).

Hedge fund activity in Hanmi Financial Corp (NASDAQ:HAFC)

Heading into Q3, a total of 9 of the hedge funds we track were bullish in this stock, a change of -18% from the previous quarter. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes substantially.

Hanmi Financial Corp (NASDAQ:HAFC)When using filings from the hedgies we track, Bryn Mawr Capital, managed by Ken Gray and Steve Walsh, holds the most valuable position in Hanmi Financial Corp (NASDAQ:HAFC). Bryn Mawr Capital has a $11.9 million position in the stock, comprising 0.8% of its 13F portfolio. Sitting at the No. 2 spot is Renaissance Technologies, managed by Jim Simons, which held a $10.2 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining peers that are bullish include Ken Griffin’s Citadel Investment Group, John Brennan’s Sirios Capital Management and John Overdeck and David Siegel’s Two Sigma Advisors.

Judging by the fact that Hanmi Financial Corp (NASDAQ:HAFC) has witnessed declining interest from upper-tier hedge fund managers, it’s easy to see that there were a few money managers who sold off their positions entirely at the end of the second quarter. Interestingly, Sander Gerber’s Hudson Bay Capital Management dumped the biggest stake of all the hedgies we monitor, valued at an estimated $2.3 million in stock, and D. E. Shaw of D E Shaw was right behind this move, as the fund said goodbye to about $0.8 million worth. These transactions are important to note, as total hedge fund interest was cut by 2 funds at the end of the second quarter.

How have insiders been trading Hanmi Financial Corp (NASDAQ:HAFC)?

Bullish insider trading is best served when the company in question has experienced transactions within the past six months. Over the last half-year time frame, Hanmi Financial Corp (NASDAQ:HAFC) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also examine the relationship between both of these indicators in other stocks similar to Hanmi Financial Corp (NASDAQ:HAFC). These stocks are TriCo Bancshares (NASDAQ:TCBK), First Interstate Bancsystem Inc (NASDAQ:FIBK), Cascade Bancorp (NASDAQ:CACB), Central Pacific Financial Corp. (NYSE:CPF), and West Coast Bancorp (NASDAQ:WCBO). This group of stocks are in the regional – pacific banks industry and their market caps resemble HAFC’s market cap.

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