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

Hanmi Financial Co. (NASDAQ:HAFC) was the recipient of a significant decrease in short interest in 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. Based on an average daily volume of 198,300 shares, the short-interest ratio is presently 3.1 days. Currently, 2.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

HAFC has been the topic of a number of recent research reports. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. DA Davidson lifted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, Janney Montgomery Scott raised shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Hanmi Financial currently has a consensus rating of “Hold” and an average price target of $24.38.

Institutional Investors Weigh In On Hanmi Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Hanmi Financial by 32.2% in the second quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock worth $17,937,000 after purchasing an additional 261,545 shares during the period. FMR LLC boosted its stake in shares of Hanmi Financial by 26.1% in the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock valued at $16,368,000 after purchasing an additional 182,164 shares during the last quarter. American Century Companies Inc. grew its position in shares of Hanmi Financial by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 578,155 shares of the bank’s stock worth $9,667,000 after buying an additional 82,087 shares during the period. Stieven Capital Advisors L.P. raised its stake in shares of Hanmi Financial by 20.6% during the third quarter. Stieven Capital Advisors L.P. now owns 571,053 shares of the bank’s stock worth $10,622,000 after buying an additional 97,500 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Hanmi Financial by 71.8% in the second quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock valued at $8,070,000 after buying an additional 201,789 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Price Performance

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

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The firm had revenue of $108.86 million for the quarter, compared to analyst estimates of $59.23 million. During the same quarter in the prior year, the firm earned $0.62 EPS. Equities analysts expect that Hanmi Financial will post 2 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.87%. The ex-dividend date was Monday, November 4th. Hanmi Financial’s dividend payout ratio is 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.