Hanmi Financial Corporation (NASDAQ:HAFC) Announces Quarterly Dividend of $0.28

Key Points

• Hanmi Financial declared a quarterly dividend of $0.28 per share, payable on August 19 to shareholders of record as of August 3. The dividend implies an annualized yield of about 3.5%.
• The bank’s dividend appears well covered, with a 40.3% payout ratio; analysts expect it to earn enough next year to keep covering the annual dividend comfortably.
• Hanmi Financial also reported better-than-expected quarterly EPS of $0.79, while the stock rose to $32.22 in Thursday trading, near its 52-week high of $33.50.

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Monday, August 3rd will be paid a dividend of 0.28 per share by the bank on Wednesday, August 19th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, August 3rd.

Hanmi Financial has increased its dividend by an average of 0.2%per year 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% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hanmi Financial to earn $3.42 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 32.7%.

Hanmi Financial Stock Performance

NASDAQ HAFC traded up $0.82 during trading on Thursday, reaching $32.22. The company's stock had a trading volume of 519,303 shares, compared to its average volume of 280,566. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $959.19 million, a price-to-earnings ratio of 10.85 and a beta of 0.72. Hanmi Financial has a twelve month low of $22.00 and a twelve month high of $33.50. The business's fifty day moving average price is $31.26 and its 200-day moving average price is $28.82.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $72.21 million during the quarter, compared to the consensus estimate of $74.03 million. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.27%. As a group, analysts anticipate that Hanmi Financial will post 3.16 EPS for the current fiscal year.

About Hanmi Financial

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.

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