Hanmi Financial Co. (HAFC) to Issue Quarterly Dividend of $0.27 on February 26th

Hanmi Financial Co. (NASDAQ:HAFC) announced a quarterly dividend on Friday, February 7th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Monday, February 10th. This is an increase from Hanmi Financial’s previous quarterly dividend of $0.25.

Hanmi Financial has increased its dividend by an average of 22.8% per year over the last three years. Hanmi Financial has a dividend payout ratio of 42.4% indicating that 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 Stock Down 0.8 %

Hanmi Financial stock opened at $24.58 on Friday. The stock’s 50 day moving average price is $23.95 and its 200 day moving average price is $21.88. The company has a market cap of $742.32 million, a PE ratio of 11.99 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, 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 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 net margin of 14.45% and a return on equity of 8.64%. On average, sell-side analysts predict that Hanmi Financial will post 2.45 EPS for the current fiscal year.

Analysts Set New Price Targets

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