Hanmi Financial (HAFC) Declares $0.25 Dividend

Hanmi Financial said on July 27, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.

Shareholders of record as of August 7, 2023 will receive the payment on August 23, 2023.

At the current share price of $19.00 / share, the stock's dividend yield is 5.26%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.10%, the lowest has been 1.68%, and the highest has been 11.25%. The standard deviation of yields is 1.54 (n=235).

The current dividend yield is 0.76 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 2.12%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 453 funds or institutions reporting positions in Hanmi Financial. This is a decrease of 16 owner(s) or 3.41% in the last quarter. Average portfolio weight of all funds dedicated to HAFC is 0.07%, a decrease of 27.29%. Total shares owned by institutions decreased in the last three months by 1.67% to 32,554K shares. The put/call ratio of HAFC is 0.50, indicating a bullish outlook.

Analyst Price Forecast Suggests 11.66% Upside

As of August 2, 2023, the average one-year price target for Hanmi Financial is 21.22. The forecasts range from a low of 19.19 to a high of $26.25. The average price target represents an increase of 11.66% from its latest reported closing price of 19.00.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Hanmi Financial is 301MM, an increase of 11.22%. The projected annual non-GAAP EPS is 3.17.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 2,066K shares representing 6.81% ownership of the company. In it's prior filing, the firm reported owning 2,047K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in HAFC by 26.40% over the last quarter.

Massachusetts Financial Services holds 1,286K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 1,560K shares, representing a decrease of 21.35%. The firm decreased its portfolio allocation in HAFC by 90.70% over the last quarter.

Lsv Asset Management holds 1,225K shares representing 4.04% ownership of the company. In it's prior filing, the firm reported owning 1,244K shares, representing a decrease of 1.59%. The firm decreased its portfolio allocation in HAFC by 22.20% over the last quarter.

NDVAX - MFS New Discovery Value Fund A holds 1,031K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 1,165K shares, representing a decrease of 13.08%. The firm decreased its portfolio allocation in HAFC by 38.73% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 969K shares representing 3.19% ownership of the company. In it's prior filing, the firm reported owning 966K shares, representing an increase of 0.31%. The firm decreased its portfolio allocation in HAFC by 30.50% over the last quarter.

Hanmi Financial Background Information
(This description is provided by the company.)

Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 35 full-service branches and 9 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses.

Additional reading:

• Hanmi Reports 2023 Second Quarter Results
• Hanmi Reports 2023 First Quarter Results
• Form of Senior Indenture
• Form of Subordinated Indenture
• List of Subsidiaries

This story originally appeared on Fintel.