Hanmi Financial Co. (NASDAQ:HAFC) to Issue Quarterly Dividend of $0.25

Hanmi Financial Co. (NASDAQ:HAFC) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Monday, November 4th will be paid a dividend of 0.25 per share by the bank on Wednesday, November 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Monday, November 4th.

Hanmi Financial has raised its dividend payment by an average of 24.4% annually over the last three years. Hanmi Financial has a payout ratio of 47.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hanmi Financial to earn $2.11 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 47.4%.

Hanmi Financial Price Performance

Hanmi Financial stock opened at $23.04 on Friday. The business has a 50-day simple moving average of $19.35 and a 200 day simple moving average of $17.56. Hanmi Financial has a 52 week low of $13.87 and a 52 week high of $23.14. The stock has a market cap of $700.12 million, a price-to-earnings ratio of 9.60 and a beta of 0.87. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, research analysts forecast that Hanmi Financial will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HAFC. Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. DA Davidson increased their target price on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday. Finally, Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $25.50 in a research report on Thursday.

About Hanmi Financial

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.