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

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

Hanmi Financial Stock Down 2.3 %

Shares of NASDAQ:HAFC traded down $0.61 during midday trading on Tuesday, reaching $25.86. The company had a trading volume of 34,202 shares, compared to its average volume of 227,041. The business’s 50 day moving average price is $23.95 and its 200 day moving average price is $20.08. Hanmi Financial has a 1-year low of $14.45 and a 1-year high of $27.59. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $780.87 million, a PE ratio of 12.49 and a beta of 0.87.

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, hitting analysts’ consensus estimates of $0.49. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. The company had revenue of $108.86 million for the quarter, compared to analysts’ expectations of $59.23 million. During the same quarter in the prior year, the business posted $0.62 EPS. Research analysts forecast that Hanmi Financial will post 2 EPS for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Monday, November 4th. Hanmi Financial’s dividend payout ratio (DPR) is presently 48.08%.

Institutional Investors Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently modified their holdings of HAFC. SG Americas Securities LLC bought a new stake in Hanmi Financial in the second quarter valued at approximately $322,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Hanmi Financial during the 2nd quarter valued at $245,000. Bank of New York Mellon Corp boosted its position in Hanmi Financial by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 451,399 shares of the bank’s stock worth $7,547,000 after purchasing an additional 17,112 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Hanmi Financial by 13.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 19,887 shares of the bank’s stock valued at $333,000 after purchasing an additional 2,328 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its position in shares of Hanmi Financial by 19.2% in the second quarter. Stieven Capital Advisors L.P. now owns 473,553 shares of the bank’s stock valued at $7,918,000 after purchasing an additional 76,198 shares during the period. 88.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HAFC shares. Janney Montgomery Scott raised shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. DA Davidson boosted their target price on Hanmi Financial from $20.00 to $22.00 and gave the company 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.38.

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.