Hanmi Financial Co. (NASDAQ:HAFC) Plans Quarterly Dividend of $0.27

Hanmi Financial Co. (NASDAQ:HAFC) announced a quarterly dividend on Friday, February 7th,RTT News reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.27 per share by the bank on Wednesday, February 26th. This represents a $1.08 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25.

Hanmi Financial has increased its dividend payment by an average of 22.8% per year over the last three years. Hanmi Financial has a dividend payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hanmi Financial to earn $2.57 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 42.0%.

Hanmi Financial Trading Down 0.8 %

Shares of HAFC opened at $24.58 on Friday. The firm has a market capitalization of $742.32 million, a P/E ratio of 11.99 and a beta of 0.88. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $23.95 and its 200 day simple moving average is $21.88. Hanmi Financial has a twelve month low of $14.45 and a twelve month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last posted its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. On average, equities research analysts forecast that Hanmi Financial will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and issued a $27.50 price target on shares of Hanmi Financial in a report on Thursday, January 30th. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Finally, Wedbush reissued a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.75.

Hanmi Financial Company Profile

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.