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. Shareholders 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 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. Equities 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 Down 0.6 %

NASDAQ:HAFC opened at $22.89 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.99. The firm’s 50-day moving average price is $24.22 and its 200-day moving average price is $21.66. The company has a market capitalization of $691.28 million, a PE ratio of 11.00 and a beta of 0.89. 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, equities analysts predict that Hanmi Financial will post 2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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