Hanmi Financial Corporation (NASDAQ:HAFC) Short Interest Down 19.9% in February

Hanmi Financial Corporation (NASDAQ:HAFC) saw a significant drop in short interest in February. As of February 13th, there was short interest totaling 429,406 shares, a drop of 19.9% from the January 29th total of 536,107 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 265,227 shares, the short-interest ratio is presently 1.6 days. Based on an average daily trading volume, of 265,227 shares, the short-interest ratio is presently 1.6 days. Approximately 1.5% of the shares of the stock are sold short.

Hanmi Financial Stock Down 0.0%

NASDAQ HAFC traded down $0.01 during trading hours on Tuesday, hitting $26.35. The company had a trading volume of 220,087 shares, compared to its average volume of 296,819. The company has a market capitalization of $789.18 million, a price-to-earnings ratio of 10.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99. Hanmi Financial has a fifty-two week low of $19.25 and a fifty-two week high of $30.20. The firm’s 50 day moving average is $27.53 and its 200 day moving average is $26.55.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). Hanmi Financial had a net margin of 17.10% and a return on equity of 9.85%. The firm had revenue of $71.20 million during the quarter, compared to analyst estimates of $71.40 million. Sell-side analysts anticipate that Hanmi Financial will post 2.6 earnings per share for the current fiscal year.

Hanmi Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.27. Hanmi Financial’s dividend payout ratio is currently 44.62%.

Analyst Ratings Changes

Several analysts have recently issued reports on HAFC shares. Zacks Research downgraded Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. DA Davidson reiterated a “neutral” rating and set a $29.50 price target on shares of Hanmi Financial in a report on Thursday, January 29th. Wall Street Zen lowered shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Finally, Piper Sandler upped their price objective on shares of Hanmi Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hanmi Financial has a consensus rating of “Hold” and a consensus price target of $31.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HAFC. Royal Bank of Canada increased its position in shares of Hanmi Financial by 8.1% in the 1st quarter. Royal Bank of Canada now owns 16,441 shares of the bank’s stock worth $372,000 after purchasing an additional 1,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Hanmi Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank’s stock worth $405,000 after purchasing an additional 780 shares in the last quarter. Empowered Funds LLC increased its holdings in Hanmi Financial by 5.4% in the first quarter. Empowered Funds LLC now owns 114,624 shares of the bank’s stock valued at $2,597,000 after buying an additional 5,920 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Hanmi Financial by 26.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,708 shares of the bank’s stock valued at $1,942,000 after buying an additional 18,112 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Hanmi Financial by 352.6% during the first quarter. Jane Street Group LLC now owns 44,723 shares of the bank’s stock valued at $1,013,000 after buying an additional 34,841 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

About Hanmi Financial

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.