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

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 665,100 shares, a growth of 8.7% from the November 30th total of 612,000 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average trading volume of 204,600 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Hanmi Financial by 71.8% in the third quarter. JPMorgan Chase & Co. now owns 836,145 shares of the bank's stock worth $15,552,000 after purchasing an additional 349,339 shares during the last quarter. Principal Financial Group Inc. raised its position in Hanmi Financial by 10.3% during the 3rd quarter. Principal Financial Group Inc. now owns 164,299 shares of the bank's stock worth $3,056,000 after buying an additional 15,385 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Hanmi Financial by 15.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 38,845 shares of the bank's stock valued at $723,000 after acquiring an additional 5,077 shares during the period. Barclays PLC lifted its stake in Hanmi Financial by 74.0% during the 3rd quarter. Barclays PLC now owns 67,158 shares of the bank's stock valued at $1,248,000 after acquiring an additional 28,561 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Hanmi Financial by 29.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 41,953 shares of the bank's stock valued at $780,000 after acquiring an additional 9,542 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HAFC. Janney Montgomery Scott raised shares of Hanmi Financial from a "neutral" rating to a "buy" rating in a report on Friday, November 15th. Wedbush reaffirmed a "neutral" rating and set a $21.00 price objective on shares of Hanmi Financial in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $29.00 price objective (up from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Piper Sandler raised shares of Hanmi Financial from a "neutral" rating to an "overweight" rating and increased their price target for the company from $20.00 to $25.50 in a report on Thursday, October 24th. Finally, DA Davidson lifted their price objective on shares of Hanmi Financial from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Hanmi Financial presently has an average rating of "Hold" and a consensus price target of $24.38.

Hanmi Financial Trading Up 0.6 %

HAFC stock traded up $0.14 during mid-day trading on Wednesday, reaching $23.62. The company had a trading volume of 172,992 shares, compared to its average volume of 156,405. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of $713.32 million, a PE ratio of 11.36 and a beta of 0.87. The firm has a 50 day moving average of $24.82 and a 200 day moving average of $20.75. Hanmi Financial has a 12 month low of $14.45 and a 12 month high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.49. The firm had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. During the same period last year, the firm earned $0.62 earnings per share. On average, equities analysts predict that Hanmi Financial will post 2 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 4.23%. Hanmi Financial's dividend payout ratio (DPR) is 48.08%.

About Hanmi Financial

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.