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

Hanmi Financial Co. (NASDAQ:HAFC) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 618,100 shares, a decline of 11.8% from the September 30th total of 700,500 shares. Based on an average trading volume of 203,800 shares, the days-to-cover ratio is presently 3.0 days. Approximately 2.1% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms have weighed in on HAFC. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their target price 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 raised their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. DA Davidson boosted their price objective on shares of Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd.

Hanmi Financial Stock Down 1.7 %

NASDAQ:HAFC traded down $0.40 during mid-day trading on Thursday, reaching $22.87. The company’s stock had a trading volume of 220,395 shares, compared to its average volume of 232,771. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. Hanmi Financial has a 1 year low of $14.45 and a 1 year high of $23.67. The stock has a fifty day moving average of $19.67 and a 200-day moving average of $17.79. The firm has a market capitalization of $692.23 million, a PE ratio of 11.10 and a beta of 0.87.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.97%. During the same period last year, the firm earned $0.62 earnings per share. Equities research analysts forecast that Hanmi Financial will post 1.97 earnings per share for the current year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, November 4th. Hanmi Financial’s payout ratio is 48.08%.

Institutional Investors Weigh In On Hanmi Financial

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in shares of 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 last quarter. Allspring Global Investments Holdings LLC boosted its stake in Hanmi Financial by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 17,559 shares of the bank’s stock valued at $280,000 after acquiring an additional 1,730 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Hanmi Financial by 113.5% in the first quarter. BNP Paribas Financial Markets now owns 82,130 shares of the bank’s stock worth $1,308,000 after purchasing an additional 43,662 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Hanmi Financial by 244.3% during the first quarter. Quantbot Technologies LP now owns 13,374 shares of the bank’s stock worth $213,000 after purchasing an additional 9,490 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Hanmi Financial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 64,196 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 4,725 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

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.