The stock of Hanmi Financial Corp (NASDAQ:HAFC) hit a new 52-week high and has $33.46 target or 7.00% above today’s $31.27 share price. The 8 months bullish chart indicates low risk for the $1.01 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $33.46 price target is reached, the company will be worth $70.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 26,530 shares traded hands. Hanmi Financial Corp (NASDAQ:HAFC) has risen 29.11% since April 20, 2016 and is uptrending. It has outperformed by 24.56% the S&P500.
Hanmi Financial Corp (NASDAQ:HAFC) Ratings Coverage
Out of 7 analysts covering Hanmi Financial (NASDAQ:HAFC), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Hanmi Financial has been the topic of 11 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was downgraded by Raymond James on Tuesday, November 3 to “Outperform”. The stock has “Market Perform” rating given by FIG Partners on Wednesday, October 19. The firm has “Outperform” rating by Raymond James given on Tuesday, August 25. As per Thursday, June 2, the company rating was downgraded by Wood. The firm earned “Outperform” rating on Wednesday, October 19 by FBR Capital. The stock of Hanmi Financial Corp (NASDAQ:HAFC) earned “Strong Buy” rating by Raymond James on Thursday, January 28. Piper Jaffray downgraded the shares of HAFC in a report on Friday, November 20 to “Neutral” rating. The stock of Hanmi Financial Corp (NASDAQ:HAFC) earned “Market Perform” rating by FIG Partners on Wednesday, October 28.
According to Zacks Investment Research, “Hanmi Financial Corporation is the holding company for Hanmi Bank, one of the leading banks providing services to the multi-ethnic communities of Southern California with full service offices. Hanmi Bank is a business bank conducting a general community banking business, with its primary market encompassing multi-ethnic small business customers. The bank specializes in commercial, SBA, trade finance, and consumer lending and is a recognized community leader serving the diverse communities throughout Southern California. (PRESS RELEASE)”
Insitutional Activity: The institutional sentiment increased to 1.58 in 2016 Q2. Its up 0.30, from 1.28 in 2016Q1. The ratio increased, as 14 funds sold all Hanmi Financial Corp shares owned while 40 reduced positions. 13 funds bought stakes while 56 increased positions. They now own 27.65 million shares or 3.94% more from 26.61 million shares in 2016Q1.
Ladenburg Thalmann Svcs last reported 41 shares in the company. Blackrock Institutional Na accumulated 0% or 915,877 shares. The Pennsylvania-based Brandywine Glob Invest Mngmt Limited Company has invested 0.01% in Hanmi Financial Corp (NASDAQ:HAFC). Invesco Limited owns 100,362 shares or 0% of their US portfolio. The Australia-based Macquarie Ltd has invested 0% in Hanmi Financial Corp (NASDAQ:HAFC). Moreover, Teachers Retirement System Of The State Of Kentucky has 0% invested in Hanmi Financial Corp (NASDAQ:HAFC) for 11,638 shares. D E Shaw has 30,211 shares for 0% of their US portfolio. Stieven Capital L P accumulated 1.64% or 250,584 shares. Bnp Paribas Investment Sa last reported 0.03% of its portfolio in the stock. Fmr Ltd Liability has 2.54 million shares for 0.01% of their US portfolio. King Luther Mgmt holds 454,040 shares or 0.1% of its portfolio. Fincl Bank Of America De has 0% invested in the company for 75,907 shares. Moreover, Sg Americas has 0% invested in Hanmi Financial Corp (NASDAQ:HAFC) for 4,532 shares. Metropolitan Life Insur Co New York holds 23,462 shares or 0% of its portfolio. New York State Common Retirement Fund last reported 178,015 shares in the company.
Insider Transactions: Since August 24, 2016, the stock had 0 buys, and 1 sale for $61,093 net activity. On Wednesday, August 24 the insider LEE JOON HYUNG sold $61,093.
More important recent Hanmi Financial Corp (NASDAQ:HAFC) news were published by: Labusinessjournal.com which released: “Hanmi Financial Corp. Acquires United Central Bank” on September 02, 2014, also Globenewswire.com published article titled: “Hanmi Financial Corp. Announces Appointment of Thomas Williams to its Board of …”, Latimes.com published: “Korean American lender Hanmi proposes $1.6-billion merger with rival BBCN” on November 24, 2015. More interesting news about Hanmi Financial Corp (NASDAQ:HAFC) was released by: Globenewswire.com and their article: “Hanmi Financial Corp. Appoints Romolo Santarosa as Senior Executive Vice …” with publication date: June 08, 2015.
HAFC Company Profile
Hanmi Financial Corporation, incorporated on March 14, 2000, is the holding firm for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New Jersey, New York, Texas, Virginia and Washington. The Bank’s client base reflects the multi-ethnic composition of these communities. The Bank maintains a branch network of over 40 full-service branch offices in California, Illinois, New Jersey, New York, Texas and Virginia, and loan production offices in California, Colorado, Texas, Virginia and Washington State. The Bank’s revenues are derived from interest and fees on its loans, interest and dividends on its securities portfolio and service charges on deposit accounts, as well as bargain purchase gain.
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