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

Hanmi Financial Co. (NASDAQ:HAFC) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 612,000 shares, a drop of 7.7% from the November 15th total of 662,900 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 198,300 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

HAFC has been the subject of several recent research reports. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.38.

Institutional Trading of Hanmi Financial

A number of large investors have recently bought and sold shares of HAFC. SG Americas Securities LLC bought a new position in shares of Hanmi Financial during the 2nd quarter worth $322,000. Texas Permanent School Fund Corp raised its position in shares of Hanmi Financial by 129.0% in the second quarter. Texas Permanent School Fund Corp now owns 59,904 shares of the bank’s stock valued at $1,002,000 after purchasing an additional 33,747 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Hanmi Financial in the second quarter valued at approximately $534,000. FMR LLC lifted its stake in shares of Hanmi Financial by 26.1% during the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after buying an additional 182,164 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Hanmi Financial by 71.8% in the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock worth $8,070,000 after buying an additional 201,789 shares during the period. 88.66% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Stock Performance

Shares of HAFC stock traded up $0.47 during trading on Monday, hitting $26.47. The company’s stock had a trading volume of 155,696 shares, compared to its average volume of 227,851. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The company has a market cap of $799.29 million, a PE ratio of 12.68 and a beta of 0.87. The business has a fifty day moving average of $23.80 and a 200-day moving average of $20.01. Hanmi Financial has a 52 week low of $14.45 and a 52 week high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last announced 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 during the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, research analysts anticipate that Hanmi Financial will post 2 earnings per share for the current year.

Hanmi Financial Announces Dividend

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

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.