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

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

Hedge Funds Weigh In On Hanmi Financial

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in Hanmi Financial by 10.3% in the 3rd quarter. Principal Financial Group Inc. now owns 164,299 shares of the bank’s stock worth $3,056,000 after purchasing an additional 15,385 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Hanmi Financial in the third quarter worth $220,000. Wealth Enhancement Advisory Services LLC bought a new position in Hanmi Financial in the third quarter worth $349,000. Assenagon Asset Management S.A. increased its holdings in Hanmi Financial by 66.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 395,244 shares of the bank’s stock valued at $7,352,000 after buying an additional 157,792 shares during the period. Finally, CWM LLC raised its stake in shares of Hanmi Financial by 71.8% in the 3rd quarter. CWM LLC now owns 29,184 shares of the bank’s stock valued at $543,000 after buying an additional 12,193 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on HAFC shares. DA Davidson lifted 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. Piper Sandler upgraded shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd.

Hanmi Financial Stock Down 1.7 %

Shares of HAFC stock traded down $0.40 on Thursday, hitting $22.87. The company’s stock had a trading volume of 220,395 shares, compared to its average volume of 232,771. The stock has a market capitalization of $692.23 million, a price-to-earnings ratio of 11.00 and a beta of 0.87. Hanmi Financial has a fifty-two week low of $14.45 and a fifty-two week high of $23.67. The firm’s fifty day moving average price is $19.67 and its 200-day moving average price is $17.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last released 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 8.97%. The company had revenue of $108.86 million for the quarter, compared to analyst estimates of $59.23 million. During the same quarter last year, the firm posted $0.62 earnings per share. Research analysts anticipate that Hanmi Financial will post 1.97 EPS for the current year.

Hanmi Financial Announces Dividend

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

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.