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

Key Points

• Hanmi declared a quarterly dividend of $0.28 per share (annualized $1.12) with an ex-dividend/record date of May 4 and a payment date of May 20, implying a yield of about 3.8%.
• The dividend appears well covered: current payout ratio is 40.3%, and analysts forecast FY EPS of $3.29, implying a projected payout ratio near 34%.
• Hanmi beat Q results expectations (EPS $0.75 vs. $0.71 consensus; revenue $134.95M vs. $71.4M estimate); the stock trades around $29.75 with a market cap of roughly $885M and a P/E of 11.1.

Hanmi Financial Corporation (NASDAQ:HAFC - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Monday, May 4th will be given a dividend of 0.28 per share by the bank on Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, May 4th.

Hanmi Financial has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Hanmi Financial has a dividend payout ratio of 40.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hanmi Financial to earn $3.29 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 34.0%.

Hanmi Financial Stock Performance

HAFC stock traded up $0.18 on Thursday, reaching $29.75. The company's stock had a trading volume of 289,414 shares, compared to its average volume of 295,629. Hanmi Financial has a 52 week low of $21.58 and a 52 week high of $30.20. The company has a market capitalization of $885.06 million, a P/E ratio of 11.10 and a beta of 0.68. The firm has a fifty day moving average of $26.65 and a two-hundred day moving average of $27.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.99.

Hanmi Financial (NASDAQ:HAFC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. Hanmi Financial had a return on equity of 10.39% and a net margin of 18.05%.The business had revenue of $134.95 million during the quarter, compared to analyst estimates of $71.40 million. As a group, analysts predict that Hanmi Financial will post 3 EPS for the current fiscal year.

Hanmi Financial Company Profile

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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