Hanmi Financial Co. (NASDAQ:HAFC) Announces Dividend Increase – $0.27 Per Share

Hanmi Financial Co. (NASDAQ:HAFC) announced a quarterly dividend on Tuesday, January 28th,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 4.40%. The ex-dividend date is Monday, February 10th. This is a positive change 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 payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 7.2 %

Shares of HAFC opened at $24.54 on Thursday. The company has a market cap of $741.11 million, a PE ratio of 11.80 and a beta of 0.89. The business has a fifty day moving average of $24.22 and a 200 day moving average of $21.66. Hanmi Financial has a 52-week low of $14.45 and a 52-week high of $27.59. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.

Hanmi Financial (NASDAQ:HAFC) last released its earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.87% and a net margin of 14.80%. On average, sell-side analysts expect that Hanmi Financial will post 2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HAFC shares. DA Davidson raised their price target on Hanmi Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $21.00 price target on shares of Hanmi Financial in a research note on Wednesday, October 23rd. Piper Sandler upgraded Hanmi Financial from a “neutral” rating to an “overweight” rating and raised their price target for the company 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 note on Friday, November 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target (up previously from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hanmi Financial currently 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.