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

Hanmi Financial Co. (NASDAQ:HAFC) declared 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 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, November 4th.

Hanmi Financial has raised its dividend payment by an average of 24.4% per year over the last three years. Hanmi Financial has a payout ratio of 44.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hanmi Financial to earn $2.24 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 44.6%.

Hanmi Financial Trading Up 0.2 %

Shares of HAFC opened at $22.92 on Friday. The stock has a market capitalization of $693.79 million, a P/E ratio of 11.02 and a beta of 0.87. Hanmi Financial has a twelve month low of $14.45 and a twelve month high of $23.67. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $19.80 and a two-hundred day simple moving average of $17.88.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. Hanmi Financial had a net margin of 14.80% and a return on equity of 8.87%. The company had revenue of $108.86 million during the quarter, compared to analyst estimates of $59.23 million. During the same period in the prior year, the business posted $0.62 earnings per share. On average, research analysts anticipate that Hanmi Financial will post 2.01 EPS for the current year.

Analysts Set New Price Targets

HAFC has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and set a $21.00 price objective on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Piper Sandler raised shares of Hanmi Financial from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $20.00 to $25.50 in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised shares of Hanmi Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd.

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.