HMN Financial, Inc. (NASDAQ:HMNF) Sees Large Growth in Short Interest

HMN Financial, Inc. (NASDAQ:HMNF) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 6,300 shares, an increase of 12.5% from the May 31st total of 5,600 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,500 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On HMN Financial

Hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC raised its position in shares of HMN Financial by 8.0% during the 1st quarter. Empowered Funds LLC now owns 28,404 shares of the bank’s stock worth $599,000 after acquiring an additional 2,100 shares in the last quarter. Grace & White Inc. NY grew its stake in HMN Financial by 0.3% during the 4th quarter. Grace & White Inc. NY now owns 204,992 shares of the bank’s stock worth $4,715,000 after buying an additional 700 shares during the last quarter. Finally, Gendell Jeffrey L grew its stake in HMN Financial by 5.0% during the 4th quarter. Gendell Jeffrey L now owns 323,577 shares of the bank’s stock worth $7,442,000 after buying an additional 15,300 shares during the last quarter. Institutional investors and hedge funds own 78.25% of the company’s stock.

HMN Financial Stock Performance

Shares of NASDAQ HMNF traded down $0.35 during mid-day trading on Wednesday, reaching $22.55. 121 shares of the company’s stock were exchanged, compared to its average volume of 5,455. The firm has a market capitalization of $100.80 million, a price-to-earnings ratio of 17.75 and a beta of 0.21. HMN Financial has a 52-week low of $17.60 and a 52-week high of $24.95. The company’s 50-day moving average is $21.24 and its 200-day moving average is $21.27.

HMN Financial (NASDAQ:HMNF) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.30 earnings per share for the quarter. HMN Financial had a return on equity of 5.41% and a net margin of 10.57%. The business had revenue of $9.16 million during the quarter.

HMN Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were given a $0.10 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. This is a positive change from HMN Financial’s previous quarterly dividend of $0.08. HMN Financial’s dividend payout ratio (DPR) is currently 31.01%.

Analyst Ratings Changes

Separately, TheStreet cut HMN Financial from a “b-” rating to a “c+” rating in a report on Friday, March 8th.

About HMN Financial

HMN Financial, Inc operates as a bank holding company for Home Federal Savings Bank that provides various retail banking products and services. The company offers various deposit accounts, such as savings, interest bearing checking, non-interest-bearing checking, money market, individual retirement, and certificate accounts.