Hanmi Financial Corporation (NASDAQ:HAFC) Shareholders to Collect $0.28 Quarterly Dividend

Hanmi Financial Corporation (NASDAQ:HAFC) declared 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 yield of 3.4%. The ex-dividend date of this dividend 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. Equities analysts expect Hanmi Financial to earn $3.41 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 32.8%.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $33.13 on Friday. The stock has a 50-day simple moving average of $31.58 and a two-hundred day simple moving average of $29.85. Hanmi Financial has a 52-week low of $24.54 and a 52-week high of $33.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 0.96. The firm has a market capitalization of $982.30 million, a PE ratio of 10.76 and a beta of 0.75.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings data on Tuesday, October 27th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). The company had revenue of $76.60 million during the quarter, compared to the consensus estimate of $75.13 million. Hanmi Financial had a return on equity of 11.30% and a net margin of 20.06%. Analysts forecast that Hanmi Financial will post 3.19 EPS for the current year.

Institutional Investors Weigh In On Hanmi Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Hanmi Financial by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,760,855 shares of the bank’s stock valued at $46,416,000 after purchasing an additional 56,102 shares during the last quarter. Rhino Investment Partners Inc grew its stake in shares of Hanmi Financial by 4.9% during the first quarter. Rhino Investment Partners Inc now owns 881,957 shares of the bank’s stock valued at $23,248,000 after buying an additional 41,008 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Hanmi Financial during the second quarter valued at approximately $12,570,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Hanmi Financial by 26.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 413,571 shares of the bank’s stock valued at $10,902,000 after buying an additional 87,655 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Hanmi Financial by 47.2% in the first quarter. Principal Financial Group Inc. now owns 208,398 shares of the bank’s stock worth $5,493,000 after buying an additional 66,833 shares during the period. Institutional investors own 88.66% of the company’s stock.

Hanmi Financial Company Profile

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.