Short Interest in Hanmi Financial Corporation (NASDAQ:HAFC) Drops By 19.9%

Hanmi Financial Corporation (NASDAQ:HAFC) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 429,406 shares, a decrease of 19.9% from the January 29th total of 536,107 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 265,227 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily volume of 265,227 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.5% of the company’s shares are sold short.

Analyst Ratings Changes

Several research firms have commented on HAFC. Zacks Research cut Hanmi Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. DA Davidson reissued a “neutral” rating and issued a $29.50 target price on shares of Hanmi Financial in a research report on Thursday, January 29th. Wall Street Zen downgraded shares of Hanmi Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Piper Sandler increased their price target on shares of Hanmi Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.33.

Hanmi Financial Stock Performance

Shares of HAFC stock opened at $26.46 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The company has a market cap of $790.89 million, a PE ratio of 10.54 and a beta of 0.74. The company’s fifty day simple moving average is $27.46 and its 200-day simple moving average is $26.57. Hanmi Financial has a 52 week low of $19.25 and a 52 week high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%.The business had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $71.40 million. As a group, equities research analysts anticipate that Hanmi Financial will post 2.6 EPS for the current year.

Hanmi Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 4.2%. Hanmi Financial’s dividend payout ratio (DPR) is currently 44.62%.

Hedge Funds Weigh In On Hanmi Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC grew its position in Hanmi Financial by 201.7% in the third quarter. AlphaQuest LLC now owns 1,792 shares of the bank’s stock valued at $44,000 after acquiring an additional 1,198 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Hanmi Financial by 30.5% in the fourth quarter. Royal Bank of Canada now owns 1,880 shares of the bank’s stock valued at $51,000 after purchasing an additional 439 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Hanmi Financial by 343.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,764 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Hanmi Financial by 148.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,414 shares of the bank’s stock worth $60,000 after buying an additional 1,442 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Hanmi Financial by 15.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the bank’s stock worth $100,000 after buying an additional 531 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean?American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium?sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA?guaranteed loans.