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

Hanmi Financial Co. (NASDAQ:HAFC) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders 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 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% annually over the last three years. Hanmi Financial has a dividend payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

NASDAQ:HAFC opened at $22.89 on Wednesday. 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 business has a 50 day moving average of $24.22 and a 200 day moving average of $21.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. Hanmi Financial has a 1-year low of $14.45 and a 1-year high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data 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 net margin of 14.80% and a return on equity of 8.87%. On average, sell-side analysts predict that Hanmi Financial will post 2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HAFC has been the subject of several analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a research report on Wednesday, December 4th. Janney Montgomery Scott upgraded Hanmi Financial from a “neutral” rating to a “buy” rating in a report on Friday, November 15th. Piper Sandler raised Hanmi Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.50 in a research note on Thursday, October 24th. DA Davidson increased their price objective on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $21.00 target price on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Hanmi Financial presently has a consensus rating of “Hold” and a consensus target price of $24.38.

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.