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

Hanmi Financial Co. (NASDAQ:HAFC - Get Free Report) 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 yield of 4.56%. The ex-dividend date of this dividend is Monday, November 4th.

Hanmi Financial has raised its dividend by an average of 24.4% per year over the last three years. Hanmi Financial has a payout ratio of 47.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 4.8 %

Shares of HAFC stock traded down $1.10 during mid-day trading on Friday, reaching $21.94. 218,877 shares of the stock traded hands, compared to its average volume of 233,268. The company has a market cap of $666.69 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. The stock's fifty day simple moving average is $19.35 and its two-hundred day simple moving average is $17.56. Hanmi Financial has a 1-year low of $14.00 and a 1-year high of $23.14.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. Hanmi Financial had a net margin of 15.84% and a return on equity of 9.66%. The business had revenue of $108.86 million for the quarter, compared to the consensus estimate of $59.23 million. During the same period last year, the company earned $0.62 EPS. On average, research analysts anticipate that Hanmi Financial will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HAFC. 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 report on Thursday. DA Davidson increased their price target on Hanmi Financial from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised Hanmi Financial from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, Wedbush reissued a "neutral" rating and set a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday.

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.