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

Hanmi Financial Corporation (NASDAQ:HAFC) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Monday, August 3rd will be given a dividend of 0.28 per share by the bank on Wednesday, August 19th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, August 3rd.

Hanmi Financial has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Hanmi Financial has a dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hanmi Financial to earn $3.42 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 32.7%.

Hanmi Financial Stock Performance

Shares of NASDAQ:HAFC opened at $32.22 on Friday. The company has a market cap of $959.19 million, a price-to-earnings ratio of 10.85 and a beta of 0.72. The company has a 50-day moving average price of $31.32 and a 200-day moving average price of $28.86. The company has a current ratio of 0.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. Hanmi Financial has a 12 month low of $22.00 and a 12 month high of $33.50.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%.The company had revenue of $72.21 million for the quarter, compared to analysts’ expectations of $74.03 million. As a group, equities analysts anticipate that Hanmi Financial will post 3.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Brean Capital reiterated a “neutral” rating and issued a $32.00 price objective on shares of Hanmi Financial in a research report on Thursday, May 28th. Piper Sandler lifted their price target on shares of Hanmi Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Hanmi Financial in a research report on Wednesday, June 24th. Capital One Financial set a $32.00 target price on shares of Hanmi Financial in a research report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Hanmi Financial from $31.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.00.

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.