Hanmi Financial Co. (NASDAQ:HAFC) Short Interest Up 53.8% in November

Hanmi Financial Co. (NASDAQ:HAFC) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 662,900 shares, an increase of 53.8% from the October 31st total of 431,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 197,900 shares, the days-to-cover ratio is currently 3.3 days.

Hanmi Financial Price Performance

Shares of HAFC stock traded down $0.30 during trading hours on Friday, hitting $26.45. The stock had a trading volume of 111,308 shares, compared to its average volume of 192,647. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $798.79 million, a price-to-earnings ratio of 12.72 and a beta of 0.84. Hanmi Financial has a one year low of $14.45 and a one year high of $27.59. The stock’s 50-day moving average price is $22.33 and its two-hundred day moving average price is $19.29.

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, hitting analysts’ consensus estimates of $0.49. The business had revenue of $108.86 million for 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 previous year, the company posted $0.62 EPS. Equities analysts forecast that Hanmi Financial will post 2 EPS for the current year.

Hanmi Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.78%. Hanmi Financial’s dividend payout ratio (DPR) is presently 48.08%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in Hanmi Financial during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Hanmi Financial during the 3rd quarter valued at approximately $49,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Hanmi Financial by 47.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock valued at $63,000 after buying an additional 1,207 shares during the period. Marshall Wace LLP purchased a new stake in Hanmi Financial during the 2nd quarter valued at $168,000. Finally, The Manufacturers Life Insurance Company lifted its position in Hanmi Financial by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568 shares of the bank’s stock worth $193,000 after buying an additional 911 shares during the last quarter. Institutional investors own 88.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. DA Davidson increased their price target on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised Hanmi Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Finally, Janney Montgomery Scott upgraded shares of Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.63.

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.