Hanmi Financial Corporation (NASDAQ:HAFC) Declares Quarterly Dividend of $0.28

Hanmi Financial Corporation (NASDAQ:HAFC) announced a quarterly dividend on Thursday, January 29th. Shareholders of record on Monday, February 9th will be paid a dividend of 0.28 per share by the bank on Wednesday, February 25th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, February 9th. This is a 3.7% increase from Hanmi Financial’s previous quarterly dividend of $0.27.

Hanmi Financial has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Hanmi Financial has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hanmi Financial to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 38.0%.

Hanmi Financial Stock Performance

Shares of HAFC traded up $1.80 on Thursday, reaching $26.57. 470,588 shares of the stock traded hands, compared to its average volume of 254,807. The stock’s 50-day moving average price is $28.07 and its 200-day moving average price is $26.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a market cap of $795.77 million, a price-to-earnings ratio of 9.87 and a beta of 0.72. Hanmi Financial has a 12 month low of $19.25 and a 12 month high of $30.20.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Hanmi Financial had a return on equity of 9.85% and a net margin of 17.10%.The business had revenue of $134.06 million for the quarter, compared to analyst estimates of $71.40 million. Equities analysts forecast that Hanmi Financial will post 2.6 EPS for the current fiscal year.

Analyst Ratings Changes

HAFC has been the subject of a number of analyst reports. DA Davidson restated a “neutral” rating and set a $29.50 price target on shares of Hanmi Financial in a research note on Thursday. Keefe, Bruyette & Woods raised their target price on Hanmi Financial from $29.00 to $30.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 22nd. Zacks Research lowered Hanmi Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Wall Street Zen lowered Hanmi Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Hanmi Financial in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Hanmi Financial currently has a consensus rating of “Hold” and an average price target of $29.33.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.