Hanmi Financial Corporation (HAFC) Sees Significant Increase in Short Interest

Hanmi Financial Corporation (NASDAQ:HAFC) was the recipient of a significant increase in short interest during the month of October. As of October 13th, there was short interest totalling 1,522,887 shares, an increase of 78.6% from the September 29th total of 852,503 shares. Based on an average daily volume of 125,328 shares, the short-interest ratio is presently 12.2 days. Approximately 4.8% of the shares of the stock are short sold.

Shares of Hanmi Financial Corporation (HAFC) opened at 31.35 on Friday. The stock has a 50 day moving average price of $29.71 and a 200-day moving average price of $28.58. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 17.71 and a beta of 0.81. Hanmi Financial Corporation has a 1-year low of $23.72 and a 1-year high of $35.85.

Hanmi Financial Corporation (NASDAQ:HAFC) last announced its quarterly earnings results on Tuesday, October 17th. The bank reported $0.46 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.46. Hanmi Financial Corporation had a net margin of 24.54% and a return on equity of 10.60%. The firm had revenue of $53.74 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter last year, the firm earned $0.41 EPS. Equities research analysts forecast that Hanmi Financial Corporation will post $1.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 30th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, October 27th. Hanmi Financial Corporation’s payout ratio is 46.93%.

Several equities research analysts have issued reports on the company. Zacks Investment Research raised Hanmi Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. ValuEngine raised Hanmi Financial Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. BidaskClub lowered Hanmi Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Keefe, Bruyette & Woods set a $28.00 target price on Hanmi Financial Corporation and gave the company a “hold” rating in a research note on Saturday, October 7th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $31.00 target price on shares of Hanmi Financial Corporation in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.00.

Several large investors have recently made changes to their positions in HAFC. BlackRock Inc. lifted its holdings in shares of Hanmi Financial Corporation by 48,878.9% in the 1st quarter. BlackRock Inc. now owns 3,983,942 shares of the bank’s stock valued at $122,506,000 after acquiring an additional 3,975,808 shares during the last quarter. FMR LLC lifted its holdings in shares of Hanmi Financial Corporation by 16.7% in the 2nd quarter. FMR LLC now owns 1,576,609 shares of the bank’s stock valued at $44,855,000 after acquiring an additional 226,110 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Hanmi Financial Corporation by 14.4% in the 2nd quarter. LSV Asset Management now owns 1,086,094 shares of the bank’s stock valued at $30,899,000 after acquiring an additional 136,400 shares during the last quarter. State Street Corp lifted its holdings in shares of Hanmi Financial Corporation by 11.6% in the 1st quarter. State Street Corp now owns 1,014,542 shares of the bank’s stock valued at $31,194,000 after acquiring an additional 105,588 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Hanmi Financial Corporation by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,008,836 shares of the bank’s stock valued at $57,152,000 after acquiring an additional 95,155 shares during the last quarter. 88.65% of the stock is owned by hedge funds and other institutional investors.

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About Hanmi Financial Corporation

Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.

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