The Short Interest in Hanmi Financial Corp. (HAFC) Decreases By 20.4%

The Short Interest in Hanmi Financial Corp. (HAFC) Decreases By 20.4%

Hanmi Financial Corp. (NASDAQ:HAFC) saw a large decline in short interest in the month of October. As of October 14th, there was short interest totalling 406,397 shares, a decline of 20.4% from the September 30th total of 510,792 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 110,623 shares, the days-to-cover ratio is currently 3.7 days.

In other news, Director Joon Hyung Lee sold 2,412 shares of Hanmi Financial Corp. stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $25.33, for a total transaction of $61,095.96. Following the completion of the sale, the director now owns 270,285 shares in the company, valued at approximately $6,846,319.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.91% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. boosted its position in Hanmi Financial Corp. by 0.6% in the third quarter. Capstone Asset Management Co. now owns 14,429 shares of the company’s stock worth $380,000 after buying an additional 87 shares during the period. Louisiana State Employees Retirement System boosted its position in Hanmi Financial Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $336,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its position in Hanmi Financial Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 16,766 shares of the company’s stock worth $394,000 after buying an additional 300 shares during the period. Teacher Retirement System of Texas boosted its position in Hanmi Financial Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,475 shares of the company’s stock worth $105,000 after buying an additional 551 shares during the period. Finally, UBS Group AG boosted its position in Hanmi Financial Corp. by 0.9% in the first quarter. UBS Group AG now owns 77,307 shares of the company’s stock worth $1,702,000 after buying an additional 654 shares during the period. 86.20% of the stock is owned by hedge funds and other institutional investors.

Hanmi Financial Corp. (NASDAQ:HAFC) opened at 24.33 on Friday. The company’s 50-day moving average is $25.72 and its 200 day moving average is $24.36. Hanmi Financial Corp. has a 1-year low of $18.92 and a 1-year high of $28.09. The company has a market cap of $776.42 million, a price-to-earnings ratio of 13.75 and a beta of 1.07.

Hanmi Financial Corp. (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Hanmi Financial Corp. had a return on equity of 11.07% and a net margin of 27.10%. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities analysts predict that Hanmi Financial Corp. will post $1.74 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Tuesday, November 8th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.12%. Hanmi Financial Corp.’s dividend payout ratio (DPR) is currently 42.94%.

Several equities research analysts have recently commented on HAFC shares. Zacks Investment Research upgraded shares of Hanmi Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, July 22nd. Raymond James Financial Inc. upgraded shares of Hanmi Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Thursday, August 25th. FBR & Co lowered their price target on shares of Hanmi Financial Corp. from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Finally, FIG Partners cut shares of Hanmi Financial Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.17.

Hanmi Financial Corp. Company Profile

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