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

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,000,000 shares, a decline of 7.4% from the March 31st total of 1,080,000 shares. Based on an average daily volume of 300,300 shares, the short-interest ratio is presently 3.3 days. Approximately 3.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of brokerages have commented on HAFC. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $18.00 price target (down previously from $18.50) on shares of Hanmi Financial in a research report on Wednesday, April 24th. Wedbush reaffirmed a "neutral" rating and set a $17.00 price objective on shares of Hanmi Financial in a research note on Wednesday, April 24th.

Hanmi Financial Trading Up 2.6 %

NASDAQ HAFC traded up $0.40 during mid-day trading on Wednesday, reaching $15.70. 227,732 shares of the stock were exchanged, compared to its average volume of 284,943. The stock has a market capitalization of $475.40 million, a PE ratio of 6.38 and a beta of 0.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.98. Hanmi Financial has a 1-year low of $13.35 and a 1-year high of $20.31. The business's fifty day simple moving average is $15.24 and its 200 day simple moving average is $16.43.

Hanmi Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, May 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 6.37%. Hanmi Financial's payout ratio is currently 41.67%.

Institutional Investors Weigh In On Hanmi Financial

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new position in Hanmi Financial during the fourth quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Hanmi Financial during the 4th quarter worth $37,000. Strs Ohio purchased a new position in shares of Hanmi Financial in the 3rd quarter worth $30,000. Simplex Trading LLC boosted its holdings in Hanmi Financial by 1,406.7% in the fourth quarter. Simplex Trading LLC now owns 2,034 shares of the bank's stock valued at $39,000 after acquiring an additional 1,899 shares during the last quarter. Finally, CWM LLC grew its position in Hanmi Financial by 291.6% during the fourth quarter. CWM LLC now owns 2,232 shares of the bank's stock valued at $43,000 after acquiring an additional 1,662 shares during the period. 88.66% of the stock is owned by institutional investors and hedge funds.

Hanmi Financial Company Profile

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.