Hanmi Financial Corporation (NASDAQ:HAFC) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 806,693 shares, a decline of 46.9% from the October 31st total of 1,520,437 shares. Based on an average trading volume of 117,574 shares, the short-interest ratio is presently 6.9 days. Currently, 2.6% of the company’s shares are sold short.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Hanmi Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,112 shares of the bank’s stock worth $145,000 after purchasing an additional 765 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Hanmi Financial by 79.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,401 shares of the bank’s stock valued at $182,000 after acquiring an additional 2,831 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Hanmi Financial by 4.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,630 shares of the bank’s stock valued at $217,000 after acquiring an additional 300 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in Hanmi Financial in the 3rd quarter valued at $218,000. Finally, Airain ltd bought a new stake in Hanmi Financial in the 2nd quarter valued at $226,000. 90.51% of the stock is currently owned by institutional investors.
A number of research firms have commented on HAFC. Piper Jaffray Companies reaffirmed a “hold” rating and set a $31.00 target price on shares of Hanmi Financial in a report on Friday, October 6th. Keefe, Bruyette & Woods set a $28.00 target price on shares of Hanmi Financial and gave the stock a “hold” rating in a report on Saturday, October 7th. Zacks Investment Research lowered shares of Hanmi Financial from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. ValuEngine raised shares of Hanmi Financial from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Finally, BidaskClub cut shares of Hanmi Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $31.00.
Hanmi Financial (HAFC) opened at $31.20 on Wednesday. The firm has a market cap of $973.90, a price-to-earnings ratio of 16.69, a PEG ratio of 2.08 and a beta of 0.79. Hanmi Financial has a 52-week low of $25.45 and a 52-week high of $35.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41.
Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 17th. The bank reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $53.74 million for the quarter, compared to analysts’ expectations of $53.30 million. Hanmi Financial had a net margin of 24.54% and a return on equity of 10.60%. During the same period last year, the firm posted $0.41 earnings per share. research analysts anticipate that Hanmi Financial will post 1.81 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 30th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.69%. Hanmi Financial’s dividend payout ratio is 46.93%.
Hanmi Financial Company Profile
Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.
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