Hanmi Financial Corporation (HAFC) to Distribute Quarterly Dividend of $0.28 on November 25th

Hanmi Financial Corporation (NASDAQ:HAFC) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.28 per share by the bank on Wednesday, November 25th. This represents a $1.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, November 9th.

Hanmi Financial has increased its dividend by an average of 0.2% per year over the last three years and has raised its dividend every year for the last 1 years. Hanmi Financial has a payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hanmi Financial to earn $3.44 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 32.6%.

Hanmi Financial Trading Down 1.8%

Shares of HAFC opened at $32.55 on Friday. Hanmi Financial has a twelve month low of $24.54 and a twelve month high of $33.50. The firm has a market capitalization of $965.11 million, a P/E ratio of 10.90 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.98 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $31.61 and its 200 day simple moving average is $29.88.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, October 27th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The firm had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $75.13 million. Hanmi Financial had a net margin of 20.06% and a return on equity of 11.30%. On average, equities research analysts forecast that Hanmi Financial will post 3.20 earnings per share for the current year.

Analyst Ratings Changes

HAFC has been the topic of several research analyst reports. Piper Sandler lifted their price objective on Hanmi Financial from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Hanmi Financial in a research report on Monday, September 21st. Finally, DA Davidson increased their target price on shares of Hanmi Financial from $31.50 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hanmi Financial currently has a consensus rating of “Hold” and an average target price of $33.40.

Hanmi Financial Company Profile

Hanmi Financial Corporation is the holding company for Hanmi Bank, a commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American and other small-business communities and has developed into a full-service regional bank serving individuals, businesses, and professional organizations.

Hanmi Bank offers commercial and consumer deposit accounts, business and personal lending, commercial real estate financing, small business loans, construction loans, and trade finance services.