Hanmi Financial Co. (NASDAQ:HAFC) Sees Large Decrease in Short Interest

Hanmi Financial Co. (NASDAQ:HAFC) saw a large decrease in short interest during 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 short-interest ratio is presently 2.8 days. Currently, 2.0% of the company’s stock are sold short.

Hanmi Financial Stock Up 1.9 %

HAFC traded up $0.35 during trading on Wednesday, hitting $19.26. 183,871 shares of the company’s stock traded hands, compared to its average volume of 236,490. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Hanmi Financial has a 12-month low of $13.87 and a 12-month high of $20.92. The stock has a market capitalization of $585.25 million, a price-to-earnings ratio of 7.89 and a beta of 0.88. The company’s 50 day simple moving average is $19.03 and its two-hundred day simple moving average is $16.79.

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

Hanmi Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Hanmi Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Hanmi Financial by 47.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,773 shares of the bank’s stock worth $63,000 after acquiring an additional 1,207 shares during the period. PNC Financial Services Group Inc. boosted its position in Hanmi Financial by 90.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the bank’s stock worth $100,000 after purchasing an additional 2,441 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Hanmi Financial by 278.4% during the 1st quarter. EntryPoint Capital LLC now owns 8,484 shares of the bank’s stock valued at $135,000 after purchasing an additional 6,242 shares during the period. Marshall Wace LLP purchased a new position in shares of Hanmi Financial in the second quarter worth approximately $168,000. Finally, Entropy Technologies LP bought a new stake in Hanmi Financial during the first quarter valued at approximately $171,000. 88.66% of the stock is owned by institutional investors.

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.