Short Interest in Hanmi Financial Co. (NASDAQ:HAFC) Grows By 27.3%

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 451,800 shares, an increase of 27.3% from the December 31st total of 355,000 shares. Currently, 1.5% of the company's stock are sold short. Based on an average daily trading volume, of 209,800 shares, the days-to-cover ratio is currently 2.2 days.

Hanmi Financial Stock Performance

Shares of HAFC traded up $0.19 during midday trading on Wednesday, hitting $24.68. 109,616 shares of the stock traded hands, compared to its average volume of 188,520. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.00. Hanmi Financial has a 1-year low of $14.45 and a 1-year high of $27.59. The business's 50 day moving average price is $24.03 and its two-hundred day moving average price is $21.84. The firm has a market capitalization of $745.24 million, a PE ratio of 12.04 and a beta of 0.88.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. Equities research analysts predict that Hanmi Financial will post 2.41 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.38%. This is an increase from Hanmi Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. Hanmi Financial's payout ratio is 52.68%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Janney Montgomery Scott upgraded shares of Hanmi Financial from a "neutral" rating to a "buy" rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. DA Davidson reaffirmed a "neutral" rating and set a $27.50 target price on shares of Hanmi Financial in a report on Thursday, January 30th. Piper Sandler upgraded Hanmi Financial from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, Wedbush restated a "neutral" rating and set a $21.00 price objective on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Hanmi Financial has an average rating of "Hold" and a consensus target price of $25.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in Hanmi Financial during the third quarter valued at about $28,000. R Squared Ltd purchased a new stake in shares of Hanmi Financial in the 4th quarter valued at approximately $43,000. Versant Capital Management Inc lifted its position in shares of Hanmi Financial by 110.7% in the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank's stock valued at $47,000 after acquiring an additional 1,035 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Hanmi Financial in the 3rd quarter worth approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its position 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 worth $63,000 after purchasing an additional 1,207 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company's stock.

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.