Hanmi Financial Co. (NASDAQ:HAFC) Sees Significant Decline in Short Interest

Hanmi Financial Co. (NASDAQ:HAFCGet Free Report) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 978,200 shares, a decrease of 9.4% from the May 15th total of 1,080,000 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 218,600 shares, the short-interest ratio is currently 4.5 days.

Analyst Ratings Changes

Several research analysts have commented on HAFC shares. Wedbush reissued a “neutral” rating and issued a $17.00 price objective on shares of Hanmi Financial in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price target (down from $18.50) on shares of Hanmi Financial in a research note on Wednesday, April 24th.

Get Our Latest Stock Analysis on Hanmi Financial

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in Hanmi Financial by 151.2% in the first quarter. Assenagon Asset Management S.A. now owns 443,539 shares of the bank’s stock valued at $7,061,000 after acquiring an additional 266,949 shares during the period. Hsbc Holdings PLC raised its holdings in Hanmi Financial by 2,264.9% in the fourth quarter. Hsbc Holdings PLC now owns 238,448 shares of the bank’s stock worth $4,671,000 after purchasing an additional 228,365 shares during the period. Acadian Asset Management LLC increased its position in shares of Hanmi Financial by 147.5% during the first quarter. Acadian Asset Management LLC now owns 280,909 shares of the bank’s stock worth $4,471,000 after acquiring an additional 167,430 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Hanmi Financial by 59.9% during the third quarter. AQR Capital Management LLC now owns 388,875 shares of the bank’s stock worth $6,311,000 after acquiring an additional 145,703 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in 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 purchasing an additional 58,097 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Hanmi Financial Price Performance

Hanmi Financial stock traded up $0.09 during mid-day trading on Tuesday, hitting $15.44. The company’s stock had a trading volume of 114,160 shares, compared to its average volume of 249,195. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $469.22 million, a P/E ratio of 6.43 and a beta of 0.91. Hanmi Financial has a twelve month low of $13.87 and a twelve month high of $20.31. The stock’s fifty day moving average price is $15.58 and its two-hundred day moving average price is $16.43.

Hanmi Financial (NASDAQ:HAFCGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). Hanmi Financial had a net margin of 17.63% and a return on equity of 10.70%. The company had revenue of $58.39 million for the quarter, compared to analysts’ expectations of $58.83 million. Research analysts forecast that Hanmi Financial will post 2.02 earnings per share for the current year.

Hanmi Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Monday, May 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date was Friday, May 3rd. Hanmi Financial’s dividend payout ratio is 41.67%.

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

Receive News & Ratings for Hanmi Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanmi Financial and related companies with MarketBeat.com's FREE daily email newsletter.