Hanmi Financial Corporation (NASDAQ:HAFC) Stock to Pay Quarterly Dividend of $0.28

Key Points

• Hanmi Financial declared a quarterly dividend of $0.28 per share, payable November 25 to shareholders of record November 9. The dividend represents $1.12 annually and a 3.4% yield.
• The dividend appears well covered, with a current payout ratio of 40.3% and an expected forward payout ratio of 32.9% based on projected earnings.
• Hanmi Financial’s latest quarterly EPS of $0.80 narrowly missed the $0.81 consensus estimate, while revenue of $76.6 million exceeded expectations of $75.13 million.

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors 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 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, November 9th.

Hanmi Financial has increased 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 dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hanmi Financial to earn $3.40 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 32.9%.

Hanmi Financial Stock Performance

HAFC stock traded up $0.43 during trading on Thursday, hitting $33.13. 222,244 shares of the company's stock traded hands, compared to its average volume of 260,058. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. Hanmi Financial has a 52 week low of $24.54 and a 52 week high of $33.50. The stock has a fifty day moving average price of $31.54 and a two-hundred day moving average price of $29.83. The stock has a market capitalization of $982.27 million, a price-to-earnings ratio of 11.15 and a beta of 0.75.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.01). Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. The business had revenue of $76.60 million during the quarter, compared to the consensus estimate of $75.13 million. As a group, equities analysts anticipate that Hanmi Financial will post 3.19 EPS for the current fiscal year.

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.

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