HMN Financial Inc. (Nasdaq: HMNF) Stellar Results but is Anyone Watching?

HMNF Financial, Inc. – Nasdaq: HMNF

Shares of HMN Financial Inc. bucked the banking sector trend today and ended up over 6%. HMNF, traded on the Nasdaq, closed at $17.35 on Wednesday and closed today at $18.50 on heavy volume. Today’s rise in value was notable when positioned against the Thomson Reuters Financials Index that saw a 0.27% drop. However, HMNF has been doing well for years. Since it traded below $2.00 in 2012, the shares of MNF Financial Inc. have had a relatively steady climb upwards.

HMN Financial, Inc. is a stock savings bank holding company, which was incorporated in Delaware in 1994. The Company owns 100 percent of Home Federal Savings Bank. Home Federal, originally chartered in 1934, has a community banking philosophy and operates retail banking and loan production facilities in Minnesota, Iowa, and Wisconsin. The Bank has two wholly owned subsidiaries, Osterud Insurance Agency, Inc. which offers financial planning products and services, and HFSB Property Holding LLC, which acts as an intermediary for the bank in holding and operating certain foreclosed properties.

HMN Financial Inc. had impressive 3rd quarter results. From their press release:

Year to Date Summary

  • Net income of $4.7 million, up $2.8 million, compared to net income of $1.9 million in first nine months of 2015
  • Diluted earnings per share of $0.99, up $0.61, compared to diluted earnings per share of $0.38 in first nine months of 2015
  • Net interest income of $19.5 million, up $5.2 million from first nine months of 2015
  • Total assets increased $43 million, or 6.6%, in first nine months of 2016

Interestingly, no analysts cover HMN Financial Inc. An interesting observation when you consider the shares have increased 900% since 2012. There is a lot of inside ownership and little short sales on HMNF.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

Ticker Symbol HMNF
Last Price a/o 4:00 PM EST  $                    18.50
Average Volume 3,400
Market Cap $77.9 million
Sales $5.8 million
Shares Outstanding 4.5 million
Share Float 3.52 million
Shortable Yes
Optionable No
Inside Ownership 31.36%
Short Float 0.06%
Short Interest Ratio 0.65
Quarterly Return 22.10%
YTD Return 50.22%
Year Return 50.22%

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