Hanmi Financial Corporation (NASDAQ:HAFC) Declares $0.27 Quarterly Dividend

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Monday, August 4th will be given a dividend of 0.27 per share by the bank on Wednesday, August 20th. This represents a $1.08 annualized dividend and a yield of 4.64%.

Hanmi Financial has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hanmi Financial to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 38.0%.

Hanmi Financial Stock Up 0.6%

Shares of NASDAQ:HAFC traded up $0.13 during midday trading on Thursday, reaching $23.30. 37,817 shares of the company were exchanged, compared to its average volume of 183,396. Hanmi Financial has a fifty-two week low of $17.37 and a fifty-two week high of $27.59. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $24.19 and a two-hundred day simple moving average of $23.30. The firm has a market cap of $703.94 million, a PE ratio of 10.84 and a beta of 0.73.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.12). Hanmi Financial had a return on equity of 8.83% and a net margin of 15.11%. The company had revenue of $65.21 million for the quarter, compared to analyst estimates of $65.70 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. As a group, sell-side analysts forecast that Hanmi Financial will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of Hanmi Financial by 5.4% in the 1st quarter. Empowered Funds LLC now owns 114,624 shares of the bank's stock valued at $2,597,000 after acquiring an additional 5,920 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Hanmi Financial by 26.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,708 shares of the bank's stock valued at $1,942,000 after acquiring an additional 18,112 shares during the period. Jane Street Group LLC grew its position in shares of Hanmi Financial by 352.6% in the 1st quarter. Jane Street Group LLC now owns 44,723 shares of the bank's stock valued at $1,013,000 after acquiring an additional 34,841 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hanmi Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,892 shares of the bank's stock valued at $405,000 after acquiring an additional 780 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Hanmi Financial by 8.1% during the 1st quarter. Royal Bank of Canada now owns 16,441 shares of the bank's stock worth $372,000 after buying an additional 1,234 shares during the last quarter. Institutional investors own 88.66% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HAFC. DA Davidson raised their target price on shares of Hanmi Financial from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of Hanmi Financial from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.38.

About Hanmi Financial

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.

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