Hanmi Financial Corporation (NASDAQ:HAFC) Shares Will Pay Quarterly Dividend of $0.28

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 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, November 9th.

Hanmi Financial has raised its dividend 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. 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 Trading Up 1.3%

Hanmi Financial stock traded up $0.43 during midday trading on Thursday, reaching $33.13. The stock had a trading volume of 222,244 shares, compared to its average volume of 260,058. Hanmi Financial has a twelve month low of $24.54 and a twelve month high of $33.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $982.27 million, a price-to-earnings ratio of 11.15 and a beta of 0.75. The firm’s fifty day simple moving average is $31.54 and its two-hundred day simple moving average is $29.83.

Hanmi Financial (NASDAQ:HAFC) last announced its earnings results on Tuesday, October 27th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $76.60 million for the quarter, compared to analyst estimates of $75.13 million. Hanmi Financial had a net margin of 19.82% and a return on equity of 11.20%. Equities analysts anticipate that Hanmi Financial will post 3.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Hanmi Financial

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Hanmi Financial during the third quarter valued at approximately $866,000. SummerHaven Investment Management LLC grew its position in Hanmi Financial by 63.2% in the third quarter. SummerHaven Investment Management LLC now owns 46,612 shares of the bank’s stock worth $1,440,000 after acquiring an additional 18,051 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Hanmi Financial in the second quarter worth approximately $119,000. Squarepoint Ops LLC bought a new stake in Hanmi Financial in the second quarter worth approximately $434,000. Finally, Allworth Financial LP increased its stake in shares of Hanmi Financial by 62.6% during the 2nd quarter. Allworth Financial LP now owns 1,003 shares of the bank’s stock worth $32,000 after purchasing an additional 386 shares during the last quarter. 88.66% of the stock is owned by institutional investors and hedge funds.

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.