Hanmi Financial Co. (NASDAQ:HAFC) Raises Dividend to $0.27 Per Share

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Monday, February 10th will be given a dividend of 0.27 per share by the bank on Wednesday, February 26th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.72%. This is a positive change from Hanmi Financial's previous quarterly dividend of $0.25.

Hanmi Financial has raised its dividend by an average of 22.8% annually over the last three years. Hanmi Financial has a payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Hanmi Financial to earn $2.28 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 43.9%.

Hanmi Financial Stock Down 0.6 %

HAFC traded down $0.14 during midday trading on Tuesday, hitting $22.89. The company had a trading volume of 190,819 shares, compared to its average volume of 192,318. The company has a market capitalization of $691.28 million, a price-to-earnings ratio of 11.00 and a beta of 0.89. The stock's 50 day moving average price is $24.33 and its 200 day moving average price is $21.58. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Hanmi Financial has a 52 week low of $14.45 and a 52 week high of $27.59.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. On average, research analysts anticipate that Hanmi Financial will post 2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and set a $29.00 price objective (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Piper Sandler raised shares of Hanmi Financial from a "neutral" rating to an "overweight" rating and raised their price target for the company from $20.00 to $25.50 in a research report on Thursday, October 24th. DA Davidson boosted their price objective on Hanmi Financial from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Janney Montgomery Scott upgraded Hanmi Financial from a "neutral" rating to a "buy" rating in a report on Friday, November 15th. Finally, Wedbush reiterated a "neutral" rating and set a $21.00 price target on shares of Hanmi Financial in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Hanmi Financial has a consensus rating of "Hold" and a consensus price target of $24.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.