Short Interest in Hanmi Financial Co. (NASDAQ:HAFC) Drops By 16.1%

Hanmi Financial Co. (NASDAQ:HAFC) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 596,800 shares, a decrease of 16.1% from the August 15th total of 711,600 shares. Based on an average daily trading volume, of 215,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wedbush increased their target price on Hanmi Financial from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. DA Davidson increased their price objective on Hanmi Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HAFC. Vanguard Group Inc. grew its stake in shares of Hanmi Financial by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,255,191 shares of the bank’s stock valued at $35,903,000 after buying an additional 58,097 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Hanmi Financial by 32.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,072,772 shares of the bank’s stock valued at $17,937,000 after acquiring an additional 261,545 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Hanmi Financial by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 906,395 shares of the bank’s stock worth $17,584,000 after purchasing an additional 4,756 shares during the last quarter. American Century Companies Inc. increased its stake 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 purchasing an additional 82,087 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Hanmi Financial by 71.8% in the 2nd quarter. Acadian Asset Management LLC now owns 482,698 shares of the bank’s stock valued at $8,070,000 after purchasing an additional 201,789 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Stock Up 1.9 %

Shares of HAFC stock traded up $0.35 during trading on Wednesday, reaching $19.26. The company’s stock had a trading volume of 183,871 shares, compared to its average volume of 236,490. The company has a market cap of $585.25 million, a price-to-earnings ratio of 7.89 and a beta of 0.88. Hanmi Financial has a one year low of $13.87 and a one year high of $20.92. The business has a fifty day moving average price of $19.03 and a 200-day moving average price of $16.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $106.72 million for the quarter, compared to analysts’ expectations of $59.07 million. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. During the same period in the previous year, the firm posted $0.67 EPS. Analysts anticipate that Hanmi Financial will post 1.98 earnings per share for the current year.

Hanmi Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 5.19%. Hanmi Financial’s dividend payout ratio is 41.67%.

Hanmi Financial Company Profile

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.