Hanmi Financial Co. (NASDAQ:HAFC) Announces Quarterly Dividend of $0.25

Hanmi Financial Co. (NASDAQ:HAFC) declared a quarterly dividend on Thursday, July 25th, Zacks reports. Shareholders of record on Monday, August 5th will be given a dividend of 0.25 per share by the bank on Wednesday, August 21st. This represents a $1.00 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Monday, August 5th.

Hanmi Financial has raised its dividend by an average of 24.4% annually over the last three years. Hanmi Financial has a payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hanmi Financial to earn $2.21 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 45.2%.

Hanmi Financial Price Performance

Shares of Hanmi Financial stock opened at $20.10 on Friday. The stock has a market capitalization of $610.84 million, a price-to-earnings ratio of 8.38 and a beta of 0.90. The company has a fifty day moving average of $16.52 and a 200-day moving average of $16.12. Hanmi Financial has a 52-week low of $13.87 and a 52-week high of $20.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.98 and a current ratio of 1.00.

Hanmi Financial (NASDAQ:HAFC) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Hanmi Financial had a return on equity of 9.66% and a net margin of 15.84%. The firm had revenue of $106.72 million for the quarter, compared to analysts’ expectations of $59.07 million. During the same period last year, the firm earned $0.67 earnings per share. Equities research analysts expect that Hanmi Financial will post 2.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 price objective (down previously from $18.50) on shares of Hanmi Financial in a research note on Wednesday, April 24th. DA Davidson increased their price target on shares of Hanmi Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wedbush boosted their price objective on shares of Hanmi Financial from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday.

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.