Hanmi Financial Corp (NASDAQ:HAFC) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 796,100 shares, a drop of 16.7% from the July 31st total of 955,800 shares. Based on an average daily volume of 141,900 shares, the short-interest ratio is currently 5.6 days. Approximately 2.6% of the company’s shares are short sold.
A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Hanmi Financial by 6.5% in the 1st quarter. FMR LLC now owns 2,561,110 shares of the bank’s stock worth $54,475,000 after buying an additional 155,428 shares in the last quarter. LSV Asset Management lifted its position in Hanmi Financial by 1.2% in the 1st quarter. LSV Asset Management now owns 1,530,715 shares of the bank’s stock worth $32,558,000 after buying an additional 17,684 shares in the last quarter. Northern Trust Corp lifted its position in Hanmi Financial by 1.4% in the 2nd quarter. Northern Trust Corp now owns 413,074 shares of the bank’s stock worth $9,198,000 after buying an additional 5,560 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Hanmi Financial in the 2nd quarter worth approximately $8,240,000. Finally, Invesco Ltd. raised its holdings in shares of Hanmi Financial by 10.9% during the 2nd quarter. Invesco Ltd. now owns 287,404 shares of the bank’s stock valued at $6,400,000 after purchasing an additional 28,159 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.
HAFC stock traded up $0.07 during midday trading on Thursday, reaching $19.02. The company had a trading volume of 151,987 shares, compared to its average volume of 167,252. Hanmi Financial has a 1 year low of $17.01 and a 1 year high of $26.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $559.49 million, a P/E ratio of 10.01 and a beta of 1.17. The company has a 50 day moving average of $18.97 and a two-hundred day moving average of $21.27.
A number of research firms recently commented on HAFC. DA Davidson lowered shares of Hanmi Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $27.00 to $21.50 in a research note on Monday, August 12th. TheStreet lowered shares of Hanmi Financial from a “b-” rating to a “c+” rating in a research note on Monday, August 12th. Zacks Investment Research raised shares of Hanmi Financial from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. ValuEngine raised shares of Hanmi Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, BidaskClub raised shares of Hanmi Financial from a “sell” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Hanmi Financial presently has an average rating of “Hold” and an average target price of $24.17.
About Hanmi Financial
Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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