Hanmi Financial Co. (NASDAQ:HAFC) Sees Large Decrease in Short Interest

Hanmi Financial Co. (NASDAQ:HAFC) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 612,000 shares, a decrease of 7.7% from the November 15th total of 662,900 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average trading volume of 198,300 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On Hanmi Financial

Institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in shares of Hanmi Financial during the third quarter valued at about $28,000. Capital Performance Advisors LLP bought a new position in Hanmi Financial during the 3rd quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. grew its position in Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after acquiring an additional 1,207 shares during the last quarter. Marshall Wace LLP purchased a new position in Hanmi Financial in the 2nd quarter worth approximately $168,000. Finally, The Manufacturers Life Insurance Company lifted its position in Hanmi Financial by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock valued at $193,000 after purchasing an additional 911 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a research note on Friday, November 15th. Wedbush restated a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price objective (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Finally, DA Davidson boosted their target price on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.38.

Hanmi Financial Trading Down 3.9 %

Shares of HAFC opened at $25.44 on Wednesday. Hanmi Financial has a fifty-two week low of $14.45 and a fifty-two week high of $27.59. The business has a 50-day moving average of $23.95 and a 200 day moving average of $20.08. The firm has a market cap of $768.19 million, a P/E ratio of 12.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The company had revenue of $108.86 million for the quarter, compared to analysts’ expectations of $59.23 million. During the same period in the prior year, the company posted $0.62 EPS. As a group, research analysts forecast that Hanmi Financial will post 2 EPS for the current year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 3.93%. Hanmi Financial’s dividend payout ratio is presently 48.08%.

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. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.