Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 304,100 shares, a decline of 32.7% from the January 15th total of 451,800 shares. Based on an average daily trading volume, of 196,600 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.0% of the shares of the stock are sold short.
Hanmi Financial Trading Up 2.1 %
NASDAQ:HAFC traded up $0.50 on Tuesday, reaching $24.79. The company's stock had a trading volume of 181,102 shares, compared to its average volume of 178,871. Hanmi Financial has a 12-month low of $14.45 and a 12-month high of $27.59. The stock has a 50 day moving average price of $23.75 and a 200 day moving average price of $22.12. The firm has a market cap of $748.56 million, a price-to-earnings ratio of 12.09 and a beta of 0.88. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.54.
Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its earnings results on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. On average, equities analysts anticipate that Hanmi Financial will post 2.45 EPS for the current fiscal year.
Hanmi Financial Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a $0.27 dividend. This is a positive change from Hanmi Financial's previous quarterly dividend of $0.25. The ex-dividend date is Monday, February 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.36%. Hanmi Financial's payout ratio is presently 52.68%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on HAFC shares. Wedbush reiterated a "neutral" rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Janney Montgomery Scott upgraded shares of Hanmi Financial from a "neutral" rating to a "buy" rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $29.00 target price (up from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. DA Davidson reissued a "neutral" rating and set a $27.50 price target on shares of Hanmi Financial in a research report on Thursday, January 30th. Finally, Piper Sandler raised shares of Hanmi Financial from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Hanmi Financial currently has a consensus rating of "Hold" and an average target price of $25.75.
View Our Latest Report on Hanmi Financial
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in HAFC. Intech Investment Management LLC lifted its stake in Hanmi Financial by 1.1% during the 3rd quarter. Intech Investment Management LLC now owns 37,706 shares of the bank's stock worth $701,000 after acquiring an additional 414 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Hanmi Financial by 6.6% during the 4th quarter. Point72 Asset Management L.P. now owns 8,527 shares of the bank's stock worth $201,000 after buying an additional 527 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Hanmi Financial by 0.9% in the fourth quarter. Cresset Asset Management LLC now owns 56,990 shares of the bank's stock valued at $1,346,000 after purchasing an additional 535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hanmi Financial by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,112 shares of the bank's stock valued at $404,000 after purchasing an additional 547 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Hanmi Financial by 0.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 176,354 shares of the bank's stock worth $4,165,000 after buying an additional 677 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.
Hanmi Financial Company Profile
(
Get Free Report)
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.
Further Reading
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