Hanmi Financial Corp (NASDAQ:HAFC) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 366,208 shares, a decrease of 52.8% from the February 28th total of 776,485 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average trading volume of 98,015 shares, the days-to-cover ratio is presently 3.7 days.
Several equities research analysts recently weighed in on HAFC shares. Zacks Investment Research raised Hanmi Financial Corp from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday, December 20th. FBR & Co increased their price target on Hanmi Financial Corp from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 25th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $31.40.
Shares of Hanmi Financial Corp (NASDAQ:HAFC) opened at 30.75 on Friday. The firm has a 50-day moving average price of $32.14 and a 200-day moving average price of $30.58. The firm has a market cap of $983.57 million, a P/E ratio of 17.57 and a beta of 0.98. Hanmi Financial Corp has a 12-month low of $20.64 and a 12-month high of $35.85.
Hanmi Financial Corp (NASDAQ:HAFC) last issued its quarterly earnings results on Tuesday, January 24th. The company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Hanmi Financial Corp had a return on equity of 10.81% and a net margin of 26.70%. On average, equities research analysts expect that Hanmi Financial Corp will post $1.89 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of HAFC. Highbridge Capital Management LLC purchased a new stake in shares of Hanmi Financial Corp during the fourth quarter worth $214,000. Teachers Advisors LLC increased its stake in shares of Hanmi Financial Corp by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 56,707 shares of the company’s stock worth $1,979,000 after buying an additional 1,552 shares during the period. USA Financial Portformulas Corp purchased a new stake in shares of Hanmi Financial Corp during the fourth quarter worth $295,000. Norges Bank purchased a new stake in shares of Hanmi Financial Corp during the fourth quarter worth $995,000. Finally, AQR Capital Management LLC increased its stake in shares of Hanmi Financial Corp by 65.9% in the fourth quarter. AQR Capital Management LLC now owns 294,653 shares of the company’s stock worth $10,283,000 after buying an additional 117,043 shares during the period. Institutional investors and hedge funds own 86.36% of the company’s stock.
Hanmi Financial Corp Company Profile
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.