Hanmi Financial Co. (NASDAQ:HAFC) Short Interest Update

Hanmi Financial Co. (NASDAQ:HAFC) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 662,900 shares, an increase of 53.8% from the October 31st total of 431,000 shares. Based on an average trading volume of 197,900 shares, the short-interest ratio is presently 3.3 days. Approximately 2.2% of the shares of the stock are sold short.

Hanmi Financial Trading Down 1.1 %

HAFC traded down $0.30 on Friday, reaching $26.45. 111,308 shares of the company traded hands, compared to its average volume of 230,032. Hanmi Financial has a one year low of $14.45 and a one year high of $27.59. The firm has a fifty day simple moving average of $22.19 and a two-hundred day simple moving average of $19.20. The company has a market cap of $798.68 million, a P/E ratio of 12.72 and a beta of 0.84. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The business had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. During the same quarter in the previous year, the business posted $0.62 EPS. As a group, equities research analysts expect that Hanmi Financial will post 2 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.78%. Hanmi Financial’s dividend payout ratio is currently 48.08%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. DA Davidson lifted their price target on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Hanmi Financial has an average rating of “Moderate Buy” and an average price target of $22.63.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HAFC. Point72 DIFC Ltd purchased a new stake in Hanmi Financial during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Hanmi Financial in the 3rd quarter valued at $49,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Hanmi Financial by 47.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after buying an additional 1,207 shares in the last quarter. Marshall Wace LLP acquired a new position in Hanmi Financial during the second quarter worth $168,000. Finally, The Manufacturers Life Insurance Company raised its position in Hanmi Financial by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after acquiring an additional 911 shares during the period. Institutional investors own 88.66% of the company’s stock.

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