Hanmi Financial Corporation (HAFC) To Go Ex-Dividend on November 9th

Hanmi Financial Corporation (NASDAQ:HAFC) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Monday, November 9th will be given a dividend of $0.28 per share by the bank on Wednesday, November 25th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, November 9th.

Hanmi Financial has raised its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Hanmi Financial has a payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Hanmi Financial to earn $3.44 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 32.6%.

Hanmi Financial Stock Up 0.5%

Shares of NASDAQ HAFC opened at $32.68 on Friday. The company has a 50-day moving average of $31.80 and a 200 day moving average of $29.99. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.09. Hanmi Financial has a 12-month low of $24.54 and a 12-month high of $34.46. The stock has a market cap of $968.96 million, a PE ratio of 10.75 and a beta of 0.72.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 27th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Hanmi Financial had a net margin of 20.06% and a return on equity of 11.30%. The firm had revenue of $76.60 million during the quarter, compared to analysts’ expectations of $75.13 million. As a group, sell-side analysts predict that Hanmi Financial will post 3.20 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HAFC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Hanmi Financial in a research note on Monday, September 21st. DA Davidson lifted their price objective on Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, Piper Sandler upped their target price on shares of Hanmi Financial from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.40.

About Hanmi Financial

Hanmi Financial Corporation is the holding company for Hanmi Bank, a commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American and other small-business communities and has developed into a full-service regional bank serving individuals, businesses, and professional organizations.

Hanmi Bank offers commercial and consumer deposit accounts, business and personal lending, commercial real estate financing, small business loans, construction loans, and trade finance services.