Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hanmi Financial Corporation (HAFC)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$101.18 - $480.60$221.71
Multi-Stage$54.53 - $59.61$57.02
Blended Fair Value$139.36
Current Price$24.69
Upside464.45%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.40%16.33%1.011.020.950.550.530.991.030.860.850.43
YoY Growth---0.51%6.63%73.40%3.47%-46.40%-3.70%19.80%0.58%100.74%90.96%
Dividend Yield--4.47%6.57%5.14%2.24%2.69%9.14%4.72%2.80%2.78%1.93%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)72.55
(-) Cash Dividends Paid (M)32.08
(=) Cash Retained (M)40.47
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)14.519.075.44
Cash Retained (M)40.4740.4740.47
(-) Cash Required (M)-14.51-9.07-5.44
(=) Excess Retained (M)25.9631.4035.02
(/) Shares Outstanding (M)30.0230.0230.02
(=) Excess Retained per Share0.861.051.17
LTM Dividend per Share1.071.071.07
(+) Excess Retained per Share0.861.051.17
(=) Adjusted Dividend1.932.112.24
WACC / Discount Rate7.52%7.52%7.52%
Growth Rate5.50%6.50%7.50%
Fair Value$101.18$221.71$480.60
Upside / Downside309.81%797.96%1,846.52%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)72.5577.2682.2887.6393.3399.39102.37
Payout Ratio44.22%53.38%62.53%71.69%80.84%90.00%92.50%
Projected Dividends (M)32.0841.2451.4562.8275.4589.4594.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.52%7.52%7.52%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)38.0038.3638.72
Year 2 PV (M)43.6844.5145.35
Year 3 PV (M)49.1450.5551.98
Year 4 PV (M)54.3756.4658.61
Year 5 PV (M)59.4062.2665.24
PV of Terminal Value (M)1,392.391,459.641,529.47
Equity Value (M)1,636.971,711.781,789.38
Shares Outstanding (M)30.0230.0230.02
Fair Value$54.53$57.02$59.61
Upside / Downside120.86%130.95%141.42%

High-Yield Dividend Screener

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