Hanmi Financial Co. (NASDAQ:HAFC) Short Interest Down 16.1% in August

Hanmi Financial Co. (NASDAQ:HAFC) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 596,800 shares, a decline of 16.1% from the August 15th total of 711,600 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily volume of 215,000 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HAFC. DA Davidson lifted their price objective on Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wedbush lifted their price target on Hanmi Financial from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Hanmi Financial by 47.0% in 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in Hanmi Financial by 90.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock valued at $100,000 after buying an additional 2,441 shares during the period. EntryPoint Capital LLC boosted its holdings in shares of Hanmi Financial by 278.4% during the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock valued at $135,000 after buying an additional 6,242 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Hanmi Financial in the 2nd quarter worth about $168,000. Finally, Entropy Technologies LP bought a new position in shares of Hanmi Financial in the 1st quarter worth about $171,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Trading Up 1.9 %

Shares of NASDAQ:HAFC traded up $0.35 during midday trading on Wednesday, hitting $19.26. 183,871 shares of the stock traded hands, compared to its average volume of 236,490. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $19.03 and its two-hundred day moving average is $16.79. The stock has a market capitalization of $585.25 million, a PE ratio of 7.89 and a beta of 0.88. Hanmi Financial has a one year low of $13.87 and a one year high of $20.92.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $106.72 million during the quarter, compared to analyst estimates of $59.07 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same quarter in the prior year, the company posted $0.67 EPS. As a group, research analysts forecast that Hanmi Financial will post 1.98 earnings per share for the current year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Monday, August 5th. Hanmi Financial’s dividend payout ratio (DPR) is currently 41.67%.

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.